A US-based pharmaceutical company is set to launch trials exploring how its inhaled CBD products can help treat anxiety disorders.
Receptor Life Sciences (RLS), a pharmaceutical company developing new therapies to address central nervous system disorders, has secured funding to study the effects of its CBD formulations on anxiety and mental health conditions.
The company announced the closing of a $9.7 million Series A-1 financing, which will be used to advance its proprietary dry powder inhaled cannabidiol products (RLS103) through proof-of-concept clinical safety and efficacy studies.
RLS103 is a first-in-class drug/device combination product for the acute treatment of psychiatric and neurological disorders.
The US Food and Drug Administration has accepted the Investigational New Drug application for RLS103, and the first study startup is underway.
Panic disorder affects about 5.4 million adults in the United States, according to the National Institute of Mental Health. Meanwhile, Social Anxiety Disorder (SAD) affects around 15 million adults and is the second-most commonly diagnosed anxiety disorder.
Mark Theeuwes, president and CEO of Receptor Life Sciences, commented: “The advancement of our lead drug candidate, RLS103, into the clinical phase, is a significant milestone for the company, and we appreciate that our investors continue to recognize and support our efforts.
“This financing provides the opportunity for RLS103 to potentially address multiple psychiatric and neurological disorder indications with significant unmet medical needs with safe and effective therapies.”
Warren Lammert, founder and co-chief investment officer of Granite Point Capital, which led the financing, added: “We are excited to partner with the management team to accelerate the clinical development of RLS103. We recognize its potential to be the first-in-class treatment for acute anxiety disorders.”
Disclaimer: https://cannabishealthnews.co.uk/2022/04/15/us-company-to-launch-trials-on-cbd-for-anxiety-disorders-anxiety22
RLS103’s development could be a breakthrough for those struggling with anxiety disorders. Innovative treatments like this are much needed.
The $9.7 million Series A-1 financing is a testament to the potential of RLS103. Excited to follow the progress of these clinical studies.
It’s great to see Receptor Life Sciences tackling the significant unmet medical needs in psychiatric and neurological disorders. Best of luck with the trials!
Inhaled CBD as a treatment for acute anxiety disorders is an innovative approach. This could revolutionize the way we manage mental health conditions.
The support from Granite Point Capital highlights the confidence in RLS103’s potential. Looking forward to seeing the outcomes of the trials.
Mark Theeuwes and the Receptor Life Sciences team are doing great work. This financing will help accelerate their important research.
The potential impact of RLS103 on panic disorder and social anxiety disorder is immense. Millions could benefit from this treatment.
I appreciate the focus on treating psychiatric and neurological disorders with safe and effective therapies. This is a significant step in the right direction.
It’s encouraging to see the FDA accepting the Investigational New Drug application for RLS103. Regulatory support is crucial for innovative treatments.
Kudos to Receptor Life Sciences for advancing RLS103 into clinical trials. This could provide much-needed relief for those suffering from anxiety disorders.
The combination of CBD and inhalation therapy for treating anxiety is fascinating. This could open new doors for mental health treatments.
Securing $9.7 million in funding for CBD research is a huge step forward. I’m excited to see the results of the clinical trials.
It’s promising to see Receptor Life Sciences focusing on innovative treatments for anxiety disorders. Inhaled CBD could be a game-changer!