CUMBERLAND, Md., Sept. 26, 2022 (GLOBE NEWSWIRE) — RS BioTherapeutics, whose mission is to harness its strong and thorough understanding of the endocannabinoid system (ECS) to research, develop and commercialize interventions to address chronic and acute pulmonary (lung) inflammation-based diseases, is pleased to announce that is has secured a $3 million Seed II round of funding.
In July, RS BioTherapeutics announced positive results from its proof-of-concept study with its development partner Synthonics and Marshall University, for its first investigational compound, RSBT-001. RSBT-001 is a patent-pending, nebulized, semi-synthetic, cannabidiolic acid complex in development to address exacerbation and prevent progression of both acute and chronic pulmonary inflammation related to respiratory diseases including COPD, SARS-COV-2, Cystic Fibrosis, Asthma, Bronchitis, and Acute Respiratory Distress Syndrome.
In August, the company announced that it is planning a biotherapeutics cultivation and manufacturing site in the Cumberland, Maryland area, which could potentially generate 100 high paying jobs within the next five years.
Commenting on the raise, Justin Molignoni, Chief Strategy Officer of RS BioTherapeutics said, “Closing this round of funding is an exciting milestone which will help accelerate the growth of the company. These funds will not only support our growing organization but also our development of RSBT-001 as we work towards an IND submission.”
About RS BioTherapeutics
Founded by experts in pulmonary diseases and the endocannabinoid system, RS BioTherapeutics is a wholly owned subsidiary of Real Science Holdco LLC. The company’s mission is to harness its strong and thorough understanding of the Endocannabinoid System in the research, development, and commercialization of forward-thinking interventions to address chronic and acute pulmonary inflammation-based diseases. More information on RS Biotherapeutics can be found at www.rsbiotherapeutics.com.
Media Contact:
David Gutierrez, Dresner Corporate Services, (312) 780-7204, dgutierrez@dresnerco.com
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