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University of Montana Spinoff, Sinapis Pharma, Closes Series ‘A’ Financing

Sinapis Pharma, Inc. http://www.sinapispharma.com/ has successfully completed a Series "A" Preferred stock offering that has raised $510,000 for its ongoing drug development program. Sinapis Pharma has discovered and is developing a novel therapeutic approach to neuronal protection using its intravenous methamphetamine technology. The company has strong pre-clinical data in stroke and traumatic brain injury animal models conclusively demonstrating a 12-hour therapeutic window and multiple pathway neuroprotection.

The current financing will allow the company to reach significant development milestones. Investigational New Drug (IND) application submission to the FDA is anticipated for December 2009 with a Phase I clinical trial commencing in the first quarter of 2010. A Phase II proof of concept study is expected to commence in late 2010 for the stroke indication in humans.

Full Story: http://www.prnewswire.com/news-releases/sinapis-pharma-closes-series-a-financing-70274847.html

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University of Montana Tech Transfer: http://www.umt.edu/research/techtransfer/default.aspx

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