Phoenix PharmaLabs develops a portfolio of 20-plus novel compounds aimed at treating severe acute and chronic pain without addiction and addressing substance-use disorders. Its lead compound, PPL-138, has NOP/mu partial agonist activity and has shown preclinical efficacy for pain and for reducing cocaine self-administration and relapse in rats. The company was awarded an $8.7 million grant from the National Institute on Drug Abuse (NIDA) under the NIH HEAL Initiative to advance PPL-138 through remaining preclinical studies and Phase 1 human clinical trials. Phoenix has already received the first tranche of NIDA funding and is seeking an additional $3 million in private investment to cover expenses not covered by the grant. To date the company’s efforts have been funded with more than $3 million in grants and over $5 million in private funding, including two oversubscribed Reg CF offerings that raised more than $2 million. The compounds were initially developed in a collaboration between the company’s Chief Neuropharmacologist Dr. Larry Toll and Dr. Stephen Husbands of the University of Bath. Phoenix PharmaLabs is developing two lead non-addictive opioid compounds, PPL-103 (acute pain) and PPL-138 (chronic pain), both of which have shown promising in vitro and in vivo preclinical results. PPL-103 partially stimulates mu, kappa and delta opioid receptors in a balanced manner; PPL-138 partially stimulates mu and NOP receptors. Both compounds have demonstrated an absence of euphoria and low abuse potential in animal studies and have shown additional preclinical promise for treating opioid and cocaine addiction. The company acquired a portfolio of 25 compounds from the University of Bath in August 2020 and is advancing its leads toward clinical development. Phoenix plans to move PPL-103 and PPL-138 into Phase 1, Phase 2 and proof-of-concept clinical trials. Funding to advance development has come from a Reg CF equity raise, government grants, and accredited investor support. Phoenix PharmaLabs is a Woodscross, UT-based company developing a non-addictive opioid for treatment of moderate to severe pain. The company is advancing PPL-103, a potent candidate intended as a non-addictive pain treatment and for therapies to treat addiction. Phoenix raised more than $1.1M via Netcapital, an SEC-approved equity funding portal. A combination of accredited and non-accredited investors participated in the offering, which commenced October 11, 2018 and closed March 30, 2019. The funds will be used to accelerate development of PPL-103 and to commence Non-Human Primate studies, including efficacy studies and further studies of abuse/addiction potential. William Crossman serves as president and CEO.

Total raised

$11M

Funding rounds

3

Latest round

Grant

Latest activity

Oct 2022