Proniras, a Seattle, WA-based clinical-stage biotechnology company developing novel small-molecule therapeutics for the treatment of substance use and specialty central nervous system disorders, raised $4.65M in Series B funding.
The round was led by Accelerator Life Science Partners and ARCH Venture Partners, with participation from both new and existing investors, including Watson Fund, LP, WRF Capital (the investment vehicle for Washington Research Foundation), and other undisclosed investors.
The company, which aims to secure up to $9m, intends to use the funds to support a Phase 1 clinical study of its lead program PRN-001-01 (tezampanel), a novel modulator of glutaminergic signaling designed to treat patients seeking to recover from opioid addiction and associated conditions.
Led by CEO Thong Q. Le, Proniras is a clinical-stage biotechnology advancing PRN-001-01 (tezampanel), which is being clinical developed as a treatment option for opioid withdrawal and related disorders of addiction. By alleviating the symptoms associated with opioid withdrawal, the company hopes to help patients discontinue opioid usage and sustain an opioid-free life.
In conjunction with the Series B financing, Proniras has appointed Steven Gillis, Ph.D., as Chairman and Atul Saran as an independent member to the Board of Directors.
FinSMEs
01/02/2024