SALT LAKE CITY--(BUSINESS WIRE)--Phoenix PharmaLabs, a privately-held pre-clinical drug discovery company dedicated to the development of potent, non-addictive treatment for pain and treatments for addiction, today announced the launch of an equity offering campaign on the Netcapital platform. The campaign proceeds will support additional development of the company’s patented lead drug, PPL-103, a non-addictive opioid compound. Together with approximately $3 million in grant funding from Department of Defense/US Army Medical Research and Material Command and the National Institutes of Health / National Institute for Drug Abuse, proceeds from this equity offering are expected to advance PPL-103 through Phase I human clinical trials.
For information regarding investing in the company, follow the link to: https://netcapital.com/companies/phoenix.
William Crossman, CEO of Phoenix PharmaLabs said, “There is a significant unmet need for treatment of moderate-to-severe pain without risk of addiction or overdose. Members of our management team and many of our current shareholders have been personally affected by the opioid crisis. This is a devastating addiction and anyone who has had personal experience with it understands the urgent need for action to help bring about solutions to combat this epidemic.” Crossman added that individual investors are often shut out of participation in early stage science opportunities such as this.
All opioids on the market today bind to the mu receptor in the brain and then aggressively stimulate that receptor. The mu receptor produces euphoria that leads to abuse and addiction. “Our drug, PPL-103, is an analog that binds strongly to all three opioid receptors in the brain (mu, kappa and delta) and then just partially stimulates each of those receptors in a more balanced manner. This partial stimulation derives potent analgesic benefit from all three receptors but is not sufficiently strong to produce the serious opioid side-effects associated with any single receptor,” said Dr. Lawrence Toll, Chief Neuropharmacologist at Phoenix and Professor at Florida Atlantic University.
This results in a first-ever opiate analgesic that appears to be non-addicting and free of all dangerous side effects, notes Crossman.
Further, in published and unpublished in vivo studies, it has been demonstrated that PPL-103 is:
- An orally active potent pain killer (10x more potent than morphine)
- Does not cause death from overdose (even when given at 350x the analgesic dose)
- Does not cause physical dependence or withdrawal
- Does not cause constipation (even at 100x dose)
- Has demonstrated potential as an opioid addiction therapy drug replacing currently used treatments that are themselves addictive opioids.
Netcapital is a private securities platform that makes capital markets work for real people. The portal connects investors to entrepreneurs to help private companies grow. Netcapital enables companies to raise capital by selling common stock to investors, thereby empowering emerging companies to raise capital through investment opportunities to the public. The Netcapital funding portal is registered with the U.S. Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association, as required by SEC rules.
Phoenix PharmaLabs was also recently awarded a grant from NIH/NIDA to study PPL-103 for use as a treatment in cocaine addiction.
Phoenix PharmaLabs (www.phoenixpharmalabs.com) is a pre-clinical drug discovery company focused on the development and commercialization of new potent, non-addictive treatments for pain and new therapies for the treatment of addiction.
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