Brixton Biosciences, a Cambridge, MA-based clinical stage life sciences company developing novel therapies for chronic and acute pain, raised $33M in Series B funding.
The round was led by Schooner Capital with participation from SV Health Investors, Sparta Group, Excelestar Ventures, PV Capital Management, and Catalyst Health Ventures.
The company intends to use the funds to initiate pivotal clinical studies in both chronic and acute pain indications.
Founded as a spin-out from Massachusetts General Brigham, and led by CEO Sameer Sabir, Brixton Biosciences is a clinical stage life sciences company that develops novel therapies for treating pain. Its therapeutics, such as its novel Neural Ice™, provide pain relief in a single, safe, and easy drug-free injectable that is a non-addictive, locally targeted, and comparatively long-lasting solution.
The capital will enable the company to pursue two pivotal clinical studies to treat knee pain associated with osteoarthritis as well as knee replacement surgery– and to ultimately expand the applicability of it’s Neural Ice platform beyond the knee to multiple indications in pain with a simple, ultra-long acting injectable drug-free nerve block. To help realize this vision, Brixton has appointed Dr. Michael Fishman, a Key Opinion Leader in Pain Management, as Chief Medical Officer and Reggie Groves, an industry veteran with a track record of success at Medtronic, to its Board of Directors.
Commenting on the news, Sameer Sabir said: “As we use the proceeds of this funding to enter into regulatory clinical studies, our goal is to deliver a simple injectable nerve block that lasts for several months, rather than a day or so.”
