Dragon Pharmaceutical (DRUG) – Nasdaq-listed Bright Minds closes $4 million offering and begins dosing in clinical trial for epilepsy

A biopharmaceutical company is developing next-generation mental health treatments Bright Minds Biosciences Inc. MEDICATION closed his night offer for gross proceeds of approximately $4 million. The company also announced that it would begin dosing patients in the trial of proprietary compound BMB-101 for Dravet syndrome, a form of childhood epilepsy.

The offering

The offering consisted of 2,858,000 units at $1.40 each. Each unit is equivalent to one common share in the capital and one common share purchase warrant, while each warrant can be used to purchase one common share at $1.76 per warrant until August 30, 2024.

Bright Minds is expected to use all net proceeds for preclinical and clinical development activities as well as general working capital.

BMB-101 for Dravet syndrome

From the company portfolio of serotonin agonists is designed to target neurocircuit disorders that interfere with the treatment of several conditions, including resistant epilepsy, treatment-resistant depression, PTSD, and pain, among others, by potentially retaining the therapeutic benefits of psychedelics and other serotonergic compounds while minimizing their side effects.

To that end, Bright Minds is currently beginning to dose patients within Phase 1 clinical trial testing its lead product, BMB-101, for the treatment of Dravet syndromean epilepsy syndrome that begins in early childhood and may include a spectrum of mild to severe symptoms.

The research is carried out in Adelaide, Australia, by CMAX Clinical Research, a clinical trial center specializing in a range of early phase trials and first-in-human studies. Compound BMB-101 is a selective and biased next-generation 5-HT2C agonist that has shown a significant reduction in the number and intensity of epileptic seizures in predictive animal models.

In its phase 1, the clinical trial has three randomized and placebo-controlled parts. BMB-101 will be tested for safety, tolerability and other pharmacokinetic parameters in 76 healthy volunteers.

Brilliant minds’ Chief Medical Officer Dr. Revati Shreeniwas more detailed: “BMB-101 was designed with the goal of improving the safety profile over previous drugs in this class, and we are excited about the potential to provide improved therapeutics to treat this rare and devastating disease. Based Based on the strength of BMB-101’s preclinical data and the encouraging scientific rationale for 5-HT2C agonism in the treatment of Dravet syndrome, we are excited to advance our lead product into clinical trials.”

Learn more about Dravet syndrome and BMB-101

Children with Dravet syndrome show focal or generalized seizures that begin before 15 months of agewhich are often prolonged and involve half of the body and are then accompanied by subsequent seizures which may move to the other side of the body.

Initial seizures are frequently associated with fever, while other types of seizures appear after 12 months of age and vary. Status epilepticus, a continuous seizure condition requiring emergency medical attention, can occur frequently in these children, particularly during the first five years of life.

In numbers, Dravet syndrome affects approximately 1 in 15,700 people in the United States, 80-90% of whom have both an SCN1A mutation (which causes a seizure disorder) and a clinical diagnosis of Dravet. This represents approximately 0.17% of all epilepsies.

Currently there is only three drugs approved by the FDA for the treatment of Dravet syndrome: Fintepla (fenfluramine), Diacomit (stiripentol) and Epidolex (cannabidiol).

Since BMB-101, it is a Selective and biased 5-HT2C agonist. Serotonin (5-hydroxytryptamine, 5-HT) is a widely expressed monoamine neurotransmitter in the central nervous system, and drugs that modulate 5-HT have made a major impact on mental health disorders in issues as diverse as the control of ingestive behavior and the modulation of the behavioral effects of psychostimulants, opioids, alcohol and nicotine.

picture by Natasha Connell on Unsplash.