24/7 Market News- Ensysce Biosciences Receives $14M NIH and NIDA Grant

August 27, 2024

DENVER, Colo., Aug 27, 2024 (247marketnews.com)- Ensysce Biosciences (NASDAQ: ENSC) received a three-year grant from the NIH and National Institute on Drug Abuse (NIDA) for the continued development of PF614-MPAR, valued $14 million, which brings Ensysce’s total awarded federal grant funding to $40 million.

The award funding from this award will allow for the completion of the Phase 1b clinical trial, PF614-MPAR-102, designed to expand the product offering identified in the PF614-MPAR-101 study, which is the first study to verify the overdose protection of the Multi-Pill Abuse Resistance (MPAR) platform.

Dr. Lynn Kirkpatrick, CEO of Ensysce Biosciences, stated, “This non-dilutive award by NIDA is another meaningful vote of support by the federal government for the development of this novel class of opioids with overdose protection. Our initial Phase 1 study of PF614-MPAR demonstrated this approach to treat pain provides protection from taking too many pills orally. With this funding, adding to the two prior grants of over $26 million for the initial work on the MPAR and opioid use disorder (OUD) programs, Ensysce intends to quickly drive PF614-MPAR through clinical development to make its benefits available in a large market where we believe unmet need is high.”

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