Receptor Life Sciences develops innovative therapies that apply FDA-approved drug delivery technologies to treat central nervous system disorders. Its lead candidate, RLS103, is a first-in-class dry powder inhaled cannabidiol (CBD) drug/device combination aimed at acute psychiatric and neurological indications. The company uses inhaled and oral cannabinoid products intended to provide precision, consistency, reliability, and convenience. RLS announced the U.S. FDA accepted the Investigational New Drug application for RLS103 and that the first study startup is underway. Receptor will use proceeds from the financing to advance RLS103 through proof-of-concept clinical safety and efficacy studies. Management highlighted the potential to address multiple psychiatric and neurological disorder indications with unmet medical need. Receptor Holdings, through its wholly owned subsidiary Receptor Life Sciences, develops cannabinoid medicines using patented oral and inhaled drug-delivery technologies. Its oral formulations reportedly enable rapid GI absorption and higher bioavailability than existing oral cannabinoid products, while its breath-powered inhaler with dry powder formulations aims to provide ultra-rapid, precise and discreet delivery to the deep lung. The company states its delivery technologies are validated by their use in FDA-approved products. Receptor plans to initiate IND-enabling studies in the United States and to formalize collaborations in Canada and Europe following the recent financing. The firm also intends to introduce its technologies to non-prescription cannabinoid markets developing in Canada, Europe and elsewhere. Receptor announced a $29 million combined convertible debt and Series A financing to support these activities.

Total raised

$39M

Funding rounds

3

Latest round

Series A

Latest activity

Apr 2022