Led · Grant · Jul 2026

Ensysce Biosciences is developing chemically engineered drug platforms—TAAP (Trypsin-Activated Abuse Protection) and MPAR (Multi-Pill Abuse Resistance)—to reduce abuse and oral overdose risk for opioid therapies. Its lead candidate, PF614-MPAR, combines the PF614 opioid prodrug (activated by trypsin in the small intestine) with an MPAR mechanism intended to limit opioid release when excessive pills are ingested. PF614-MPAR has received Breakthrough Therapy designation from the FDA following initial clinical data from the PF614-101 study. Ensysce is initially developing PF614-MPAR for patients with severe pain and believes its approach could create a new class of opioids that maintain therapeutic exposure during prescribed use while restricting excess exposure during misuse. The company is exploring additional applications of its platforms for amphetamines and methadone. PF614-MPAR remains investigational and has not been approved by the FDA; additional studies are required to establish safety and effectiveness.

Led · Grant · Mar 2024

Gilgamesh Pharmaceuticals pursues discovery and development of improved neuropsychiatric drugs, using a platform that combines neural-circuit translational methods with AI and machine learning to optimize safety, efficacy and dosing. Its pipeline includes the ibogaine-analog GM-3009 (supported by a $14 million NIDA grant), the oral NMDAR antagonist GM-1020 (completed Phase 1 SAD/MAD and progressed into Phase 2), non-hallucinogenic neuroplasticity candidates now in IND-enabling stages, and projects targeting M1/M4 receptors. In August 2025 the company completed a strategic divestiture of clinical-stage candidate GM-2505 to AbbVie for up to $1.2 billion, and it has a separate AbbVie collaboration that included a $65 million upfront payment and up to $1.95 billion in option/ milestone payments plus royalties. The company assembled a leadership team with extensive CNS drug-development experience and intends to use recent financing to fund clinical and preclinical programs and continued discovery efforts. Gilgamesh was founded in 2019 by Jonathan Sporn and Andrew Kruegel.

Led · Grant · Oct 2023

CARI Health is building what it describes as the world’s first wearable medication monitor to enable remote medication monitoring and improve treatment compliance. The company plans to use the newly awarded NIDA SBIR Fast Track grant to support product development and conduct human clinical studies. It is eligible to receive up to $2.8 million over three years as project milestones are completed across Phase I and Phase II. CARI Health has previously received investments and support from the San Diego Angel Conference, NuFund Venture Group, Cove Fund, Chemical Angel Fund, Device of Tomorrow Capital, and several individual angel investors. The company also secured investments and accelerator support from the Cedars Sinai Accelerator and the Rady Venture Fund (UCSD), and participated in programs including the Institute for the Global Entrepreneur MedTech Accelerator at UCSD, MedTech Innovator, and EvoNexus. Founder and CEO Patrik Schmidle launched CARI Health following a family member’s struggle with opioid use disorder, and the firm says the grant will enable it to move toward human trials and broader deployment. CARI Health is building a wearable remote medication monitoring device that provides clinicians with real-time medication levels to enable tailored dosing and verify adherence. The company’s first clinical application targets patients on medications for opioid use disorder to allow remote proof of treatment compliance. CARI’s device is entering first in-patient human clinical studies and the company is preparing for the FDA regulatory pathway. Earlier development was supported by non-dilutive SBIR grant funding and participation in accelerator programs including Qualcomm Institute Innovation Space, UC San Diego’s MedTech Accelerator, and MedTech Innovator. The company says it will expand its intellectual property portfolio as it readies the product for regulatory clearance and commercial launch. CARI Health is based in San Diego and anticipates a subsequent financing round in the second half of 2023 to support regulatory and commercialization efforts.

Led · Grant · Oct 2022

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.

Led · Grant · Aug 2010

Selecta Biosciences is a clinical-stage biotechnology company developing antigen-specific immunotherapeutics via its proprietary Synthetic Vaccine Particle (SVP) platform. The SVP platform is designed to generate antigen-specific immune tolerance and enable applications such as inhibition of immunogenicity of biologic therapies, treatment of allergies, and autoimmune diseases. Selecta’s lead candidate, SEL-212, is being developed as the first non-immunogenic biologic therapy for gout. The company is advancing SEL-212 through a Phase 1 clinical program in refractory and tophaceous gout and plans a multi-dose ascending Phase 2 study slated to start in 2016. Selecta also has preclinical candidates aimed at preventing life-threatening rejections in gene therapies and Factor VIII therapies, and programs (in collaboration with Sanofi) targeting an undisclosed food allergy, celiac disease, and type 1 diabetes. Selecta is based in Watertown, Massachusetts, and will use the new proceeds to advance multiple product candidates from its SVP platform toward clinical development. Selecta Biosciences is a clinical-stage biotech developing targeted antigen-specific immune therapies using its proprietary Synthetic Vaccine Particle (SVP) platform. Its lead program, SEL-212, is positioned as a non-immunogenic treatment for refractory and tophaceous gout. The company is also advancing immune tolerance programs to prevent anti-drug antibodies against Factor VIII (SEL-201), anti-TNF alpha antibodies, and gene therapy vectors, and is pursuing candidates for allergies and autoimmune diseases. Selecta says its SVP platform can be adapted internally or with partners and highlights established R&D and manufacturing capabilities. It is building a pipeline through proprietary products and collaborations with pharmaceutical companies and research organizations. Financially, Selecta has secured more than $20 million in the latest equity funding and has received a total of $78.6 million in private equity to date. Selecta Biosciences is a clinical-stage biotechnology company based in Watertown, Mass., developing a novel class of targeted antigen-specific immune therapies. The company develops drugs that use immune‑modulating nanomedicines to generate targeted antigen‑specific immune responses to prevent and treat disease. Selecta has announced a product candidate, SEL-212, a non‑immunogenic treatment for refractory and tophaceous gout. It is developing products across three applications of antigen‑specific tolerance: inhibition of immunogenicity for biologic therapies, treatment of allergies, and treatment of autoimmune diseases. Selecta received $9.35M in new funding, including a $1.25M grant from the Bill and Melinda Gates Foundation for malaria vaccines and an $8.1M grant from the National Institutes of Health for a nicotine vaccine for smoking cessation and relapse prevention. Werner Cautreels, Ph.D., serves as President and CEO. Selecta develops a proprietary Synthetic Vaccine Particle (SVP™) platform to enable targeted vaccines (tSVP™) and tolerogenic particles (t2SVP™) for therapeutic and prophylactic applications. Its pipeline includes SEL-068 (a vaccine candidate for smoking cessation and relapse prevention), a Type 1 diabetes vaccine, universal influenza and HPV candidates, a malaria vaccine, and research programs in cancer and allergies. The company plans to broaden R&D capabilities, accelerate product development timelines, and expand applications of the SVP platform. As part of this expansion Selecta is establishing a wholly owned subsidiary in Moscow to manage and conduct R&D, integrate emerging-market needs, and access local funding and partners. Proceeds from the announced financings will be used to advance SEL-068 more rapidly through clinical studies and to push additional candidates into development. Selecta has raised $79.85 million in private funding to date, including the proceeds from the new financing. The company was founded on nanoparticle technology from the labs of MIT and Harvard researchers and is based in Watertown, Massachusetts. Founded in 2008 and based in Watertown, MA, Selecta Biosciences develops synthetic nanoparticle vaccines and immunotherapies using its proprietary targeted Synthetic Vaccine Particle (tSVP™) technology. The company is advancing an enhanced therapeutic nicotine vaccine aimed at smoking cessation and relapse prevention, progressing the program from preclinical through early clinical evaluation. Recently Selecta received a $3M award from the National Institute on Drug Abuse (NIDA) via the NIH BRDG-SPAN program to support that development and bridge R&D toward commercialization. Selecta is backed by venture investors including Polaris Venture Partners, Flagship Ventures, NanoDimension, OrbiMed Advisors and Leukon Investments. Earlier in the year the company raised $15M in a Series C financing. The BRDG-SPAN grant is intended to help translate promising medical technologies into clinical and commercial readiness.