Proniras

Proniras Corporation is a Seattle-based clinical-stage biotechnology company developing novel small-molecule therapeutics for substance use disorders and specialty central nervous system (CNS) conditions. Its lead program, PRN-001-01, is tezampanel, a competitive glutamate antagonist acting primarily at AMPA and kainate receptors that is being developed as an intravenous treatment for opiate withdrawal syndrome and related disorders of addiction. The company positions tezampanel as reducing over-activation in brain circuits involved in withdrawal, addiction and mental illness without directly stimulating or antagonizing the opioid system, with potential application in opioid overdose and in transitioning patients to long-term maintenance medications.

The published pipeline spans seven programs based on tezampanel and a tezampanel prodrug. PRN-001-01 (opiate withdrawal, IV) is listed at Phase I/II and PRN-002-01 (prodrug, oral suspension) at Phase I. Preclinical programs include PRN-001-02 (nerve agent countermeasure, intramuscular), PRN-001-03 (alcohol withdrawal, IV), PRN-001-04 (neonatal abstinence, IV), PRN-001-05 (epilepsy, IV) and PRN-002-02 (prodrug, oral solid tablet). Tezampanel was originally created by Eli Lilly before being developed by Proniras.

The company was created by Accelerator Life Science Partners, a Seattle life sciences investment fund and umbrella company, as the seventeenth startup in its portfolio, and at launch operated with three full-time employees from Accelerator's Seattle headquarters, with Accelerator maintaining executive control.

Founding story

Accelerator Life Science Partners launched Proniras Corporation to develop tezampanel, a seizure drug originally created by Eli Lilly. The launch was announced publicly in April 2018, with the company led by co-founder and Chief Scientific Officer Chris Toombs, previously co-founder and CSO of Faraday Pharmaceuticals. One source states the company was formed in 2017 by Accelerator Life Science Partners.

Business model

Proniras develops proprietary small-molecule drug candidates in-house and funds development through venture financing, U.S. government contracting and federal research grants; no commercial products or product revenue are described in the sources.

Sources describe no product revenue. Non-dilutive funding includes an $89.5 million milestone-based development contract from BARDA and a grant award from the National Institute on Drug Abuse (NIDA).

Traction

Reported progress includes an $89.5 million milestone-dependent BARDA contract, a NIDA grant award, a Series B financing announced in early 2024 to fund a Phase 1 study of PRN-001-01, and a pipeline with two programs listed at Phase I or Phase I/II and five at preclinical stage.

Latest developments

In early 2024 Proniras announced a Series B financing and new board members to support a Phase 1 study of tezampanel (PRN-001-01) for opiate withdrawal. Reported amounts differ across sources: one lists a $5.0M Series B dated January 2024 with ARCH Venture Partners and Thong Le as leads and Deerfield Management, Anthony Philippakis, Watson Fund and WRF Capital as additional investors; another reports completion of a $4.65 million Series B in February 2024 (labeled 'Seed' in that source's round-type field).