LB Pharmaceuticals Secures $10.0M in Additional Financing
Summary
LB Pharmaceuticals, Inc., a NYC-based biotechnology company focused on developing and commercializing novel and improved versions of CNS treatments, closed a $10.0m convertible note offering through a private placement to existing and new investors. Proceeds from this convertible note financing will support continued clinical development of the company’s lead asset, LB-102. Founded in 2015 by Zachary Prensky, President and CEO, LB Pharmaceuticals is a clinical stage CNS-focused life science company devoted to commercializing novel and improved versions of successful CNS treatments used extensively overseas but never approved in the United States. LB-102 was designed to improve on amisulpride’s low permeability across the blood brain barrier. A first-in-patient, placebo-controlled, Phase 2 study designed to test the safety and efficacy of LB-102 in the treatment of schizophrenia is planned for mid-2021.