PainReform, a Phase 2 Israeli biotech developing therapies for post-operative pain relief, filed on Tuesday with the SEC to raise up to $25 million in an initial public offering.
The company's lead candidate and first product, PRF-110, is based on the local anesthetic ropivacaine, targeting the post-operative pain relief market. In a small 15 patient Phase 2 proof-of-concept trial for herniorrhaphy, PRF-110 provided substantial pain reduction for up to 72 hours post-op. The company plans to initiate two Phase 3 trials for PRF-110 soon after the closing of this offering.
The Herzliya, Israel-based company was founded in 2007 and plans to list on the Nasdaq under the symbol PRFX. PainReform filed confidentially on February 3, 2020. Maxim Group LLC and Joseph Gunnar are the joint bookrunners on the deal. No pricing terms were disclosed.
