Anebulo Pharmaceuticals, a phase 2 biotech developing treatments for cannabinoid overdose and substance addiction, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
Anebulo is a biotechnology company developing novel solutions for people suffering from cannabinoid overdose and substance addiction. Its lead product candidate, ANEB-001, is intended to reverse the negative effects of cannabinoid overdose within 1 hour of administration. There is no approved medical treatment currently available to specifically alleviate the symptoms of cannabinoid overdose and no competing products further along in the development process than ANEB-001 in reversing the effects of THC. In March 2021, a European clinical trial application was accepted for ANEB-001 in the Netherlands to allow for a Phase 2 proof-of-concept trial for cannabinoid overdose. The trial is planned for the fourth quarter of 2021.
The Lakeway, TX-based company was founded in 2020 and plans to list on the Nasdaq under the symbol ANEB. Anebulo Pharmaceuticals filed confidentially on January 29, 2021. The Benchmark Company is the sole bookrunner on the deal. No pricing terms were disclosed.
