A combination of NIH grants and Series A private investments brings in a total of $ 10 million to advance the development of a non-addictive drug to fight the nationwide opioid epidemic
AUSTIN, Texas., November 10, 2021 / PRNewswire / – 4E Therapeutics, Inc., a neuroscience company based in Austin, Texas development of a first-class treatment for neuropathic pain, announced that he received a $ 5.5 million National Institutes of Health (NIH) Small Business Innovation Research (SBIR) Phase 2 UG3 Grant under the NIH Long-Term End of Substance Abuse (HEAL) Initiative .
In the United States, more than 11 million people have abused opioids and, on average, 100 people die each day from opioid-related overdoses. This widespread addiction, known as the opioid epidemic, led the Department of Health and Human Services to declare a public health emergency in 2017.
“4E Therapeutics takes the lead in tackling the opioid crisis head-on,” said Craig benson, CEO of 4E Therapeutics, â4E Therapeutics is focused on developing a world-leading treatment for neuropathic pain, which will provide an alternative to addictive opioids for people with debilitating pain. Neuropathic pain affects about 10% of United States’ population and is one of the main causes of disability.
Dr. Ted Award, PhD, is co-founder of 4E Therapeutics and Ashbel Smith, professor at the Center for Advanced Pain Studies in the Department of Neuroscience at The University of Texas at Dallas. According to Price, whose work focuses on the mechanisms that cause chronic pain, âExisting treatments for neuropathic pain are not effective enough and often have intolerable side effects. In 2013 alone, 250 million opioid prescriptions were written, enough for every adult in America. to have a pill bottle. 4E Therapeutics is leading the way in the development of neuropathic pain therapies that will improve the quality of life for Americans suffering from the devastating consequences of neuropathic pain.
4E Therapeutics received a Phase 1 grant from NIH HEAL from $ 1.7 million in 2019, and with continued support from their recent UH3 award, the company is well positioned to bring to market a non-opioid treatment for neuropathic pain that targets a pain signaling pathway distinct from all FDA-approved drugs. . 4E Therapeutics has advanced its lead compound, 4ET1103, in studies enabling IND (new investigational drug) and plans to start clinical studies within 3 years. In addition to NIH funding, 4E Therapeutics also raised series A private funding of nearly $ 2 million. This brings the total amount of capital raised for the revolutionary project to nearly $ 10 million.
4E Therapeutics is led by the CEO Craig benson. Craig is the former President and CEO of Rules-Based Medicine, Inc., and Founder and Executive Chairman of the Board of Directors of Beyond Batten Disease Foundation (BBDF), developer of BBDF-101. Joe Price is co-founder and president and president of 4E Therapeutics. Joe has co-founded and led other tech companies and is a lawyer with a background in intellectual property. The principal investigator for the SBIR grant awarded to 4E Therapeutics is Dr. James sahn, PhD, vice president of drug development. Prior to joining 4E, Sahn was a research scientist at The University of Texas at Austin, where he helped develop new neuroprotective compounds. Sahn and Price are longtime collaborators with a history of working on drug development for neuropathic pain.
4E Therapeutic is a neuroscience company founded in Austin, Texas in 2019. The company is dedicated to the development of innovative and innovative treatments for multiple pain indications. The scientific foundation of the company centers on the idea that neuropathic pain can be treated safely and effectively by targeting the activity of a protein called eIF4E, which plays a key role in regulating the activity of neurons. sensitive to pain in the peripheral nervous system called nociceptors. These neurons play a crucial role in neuropathic pain. Work on this SBIR award led to the discovery of 4ET1103, which selectively blocks a key kinase that regulates eIF4E activity, leading to strong pain reduction in several animal models of pain.. In addition to the primary indication for chronic neuropathic pain, the company’s pipeline also includes compounds to treat migraine pain and acute pain.
Contact: Angela Hale, (512) 289-2995, [email protected]
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SOURCE 4E Therapeutics, Inc.