Protagenic Therapeutics, an early stage biotech developing therapies for stress-related neuropsychiatric and mood disorders, filed on Thursday with the SEC to raise up to $18 million in an initial public offering. The company is currently listed on the OTCQB (PTIX).
The company specializes in the discovery and development of therapeutics for stress-related neuropsychiatric and mood disorders, utilizing synthetic forms of endogenous brain signaling peptides that can dampen overactive stress responses. Its lead compound, PT00114, is a 41-residue peptide synthetic form of TCAP that can be administered subcutaneously, sublingually, or intra-nasally. The company intends to complete IND-enabling studies of PT00114 and enter first-in-human Phase 1/2 studies in early 2021.
The New York, NY-based company was founded in 2004 and plans to list on the Nasdaq under the symbol PTIX. Kingswood Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
