CNS-focused US cannabis patch company raises $42M in IPO
- PA-based Zynerba plans to move into clinical trials with cannibinoid-laced transdermal patches (ZYN001 and ZYN002) for treatment of various central nervous system (CNS) diseases. The company has raised $42 million in an IPO to help fund its ambitions.
- Zynerba's transdermal patches have shown promise in refractory epilepsy, Fragile X syndrome, and osteoparthritis, as well as fibromyalgia and peripheral neuropathic pain.
- One of the major advantages associated with Zynerba's patches is that they use synthetically manufactured cannabinoids and therefore are not dependent on growing cannabis plants.
Zynerba has the distinct advantage of a product that is synthetically manufactured and also has direct-to-CNS delivery. In addition, its headed up by Armando Anido, who comes with strong industry experience, including heading up Auxilium Pharmaceuticals (acquired by Endo last year for $2.6 billion) and NuPathe (acquired by Teva for $144 million)
It seems that the company's high hopes are well grounded, with all signs pointing to a promising IPO.