- Ensysce Biosciences Inc., a San Diego, CA-based clinical phase company launching two new classes of novel opioids designed to treat severe pain, secured $60m in funding
- GEM Global Yield LLC SCS will provide Ensysce with a share subscription facility of up to $60m for a 36-month term following the public listing of the company’s common stock
- Ensysce will control the timing and maximum amount of drawdown under this facility and has no minimum drawdown obligation
- Concurrent with a public listing of its shares, the company will issue warrants to GEM to purchase outstanding common stock of the company
- Ensysce will use the funds to progress the clinical development of PF614, a first in class Trypsin Activated Abuse Protection extended-release opioid prodrug
- Then the company is led by Lynn Kirkpatrick, PhD, CEO, and Richard Wright, CBO, and Geoff Birkett, CCO
