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Now Live: Phoenix Pharma Labs
$160K+ raised | $99 min. investment | 205 investors
The market for opioids is estimated to reach $34.96 billion by 2025 and is growing at a rate of about 5% per year…
The CDC has declared that “addiction to prescription opioids is a major public health problem that is getting worse and getting worse rapidly.” The opioid epidemic is killing almost 50,000 Americans a year and costs the U.S. economy $696 billion a year, according to the Council of Economic Advisers (CEA).
Phoenix PharmaLabs (PPL) is a preclinical drug discovery company dedicated to the development of potent, safe, non-addictive treatments for pain and addiction. PPL’s lead drug, PPL-103, has demonstrated in animal studies that it is a very potent painkiller (10x more potent than morphine), and is non-addictive, does not produce withdrawal, does not cause death from overdose at elevated doses, and causes no constipation.
PPL-103 has also demonstrated effectiveness in treating opioid and cocaine addictions.
The company was awarded a $2.7 million grant from the US Army Medical Research and Material Command and a $185,000 grant from the NIH / NIDA (National Institute for Drug Abuse
Phoenix closed its first Netcapital round in March 2019, which was oversubscribed at $1.1M
Currently in the process of applying for new grants to support the advancement of PPL-138 into human clinical trial