Receptor Life Sciences, a Seattle-based startup, announced it has raised $9.7 million in a Series A-1 funding round to push its CBD-based therapeutic for acute anxiety into clinical testing.
The startup’s therapeutic combines a powdered form of CBD with an inactive compound in an inhaler to deliver to the body in controllable doses. A recent study by Receptor revealed that inhalation of synthetic CBD provided more rapid absorption into the body than an oral formulation.
“The candidate product has the potential to be the first-in-class treatment for acute anxiety disorders,” said Receptor CEO and President Mark Theeuwes. “The data will potentially guide future studies for other psychiatric and neurological disorders.”