Embera Neuro Therapeutics Completes Series B Financing and Secures Two Grants to Advance EMB-001 into Phase 2 Clinical Trials for Addiction Treatment

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on December 19, 2019, U.S. biopharmaceutical company Embera Neuro Therapeutics (Embera) announced the completion of its Series B financing and the receipt of two grants. The amount raised was not disclosed.

The first grant, from the National Institute on Drug Abuse (NIDA) under the U.S. National Institutes of Health, is the final installment of a three-year, $11.1 million award. This funding will support a Phase 2 efficacy study of EMB-001 for cocaine use disorder.

The second grant comes from the Rose Research Center (RRC) in North Carolina, which will evaluate EMB-001 as a potential smoking cessation product in a Phase 2a efficacy clinical trial. This study will be part of a five-year funding award that RRC received from the Foundation for a Smoke-Free World to assess effective smoking cessation therapies. The grant from RRC will support Embera in manufacturing clinical trial materials for EMB-001.

The Phase II clinical study of EMB-001 is expected to be completed in the first quarter of 2020.

Dr. Jed Rose, President and Chief Executive Officer of RRC, stated, “We are pleased to fund the Phase 2a clinical study of EMB-001 for smoking cessation. Based on the biological mechanisms of tobacco addiction, EMB-001 can simultaneously modulate multiple stress responses in humans and represents the most promising therapy for addiction. Our mission is to promote the development of safer and more effective treatments for addiction to address unmet medical needs in the addiction treatment industry.”

Bob Linke, President and CEO of Embera, stated, “The continued support from NIDA, RRC, and other investors has paved the way for our development of novel addiction therapies. Cocaine overdose represents a serious public health issue in the United States, for which there are currently no FDA-approved treatments. Furthermore, smoking addiction remains a major cause of lung disease, underscoring the urgent need for effective therapeutic solutions to address these addictive disorders.”

Furthermore, alongside this round of financing, Embera announced the appointment of Bruce McCarthy, M.D., as Chief Medical Officer for the EMB-001 study team. Gary Connor from RN has been appointed as Chief Operating Officer and will continue to serve as Vice President of Clinical Operations, managing and overseeing all of the company’s operational activities.

Bob Linke stated, “We are delighted to welcome McCarthy to our executive team. His expertise and experience will invigorate the research efforts for EMB-001. Meanwhile, we also look forward to Gary joining Embera as Chief Operating Officer, where he will play a key oversight role during the Phase II clinical trials of EMB-001.”

EMB-001 is a patented combination product for addiction therapy, comprising two FDA-approved drugs: the cortisol synthesis inhibitor metyrapone and the benzodiazepine oxazepam. Unlike existing addiction therapies, EMB-001 was developed through in-depth research into the physiological mechanisms and stress responses of individuals with addiction. It treats addiction by suppressing underlying cravings and reducing drug use.

Embera Neuro Therapeutics, founded in 2015 and headquartered in Massachusetts, USA, is a biopharmaceutical company dedicated to developing novel therapies for cocaine, nicotine, and other substance use disorders. The company is currently developing EMB-001, a novel combination therapy targeting specific brain functions.

(Compiled by Wang Fang)