Proniras Corporation, a clinical-stage biotechnology company developing novel small-molecule therapeutics for the treatment of substance use and specialty central nervous system disorders, today announced the successful completion of a $4.65 million funding round, marking a significant milestone in its ongoing Series B financing, which aims to secure up to $9 million. The new Series B funding will be used to support a Phase 1 clinical study of the Company's lead program PRN-001-01 (tezampanel), a novel modulator of glutaminergic signaling designed to treat patients seeking to recover from opioid addiction and associated conditions.

The Series B financing was co-led by funds managed by Accelerator Life Science Partners and ARCH Venture Partners, with participation from both new and existing investors, including Watson Fund, LP, WRF Capital (the investment vehicle for Washington Research Foundation), and other undisclosed investors.

Proniras Corporation is a clinical-stage biotechnology developing novel small-molecule therapeutics for the treatment of substance use and specialty central nervous system disorders. The Company's lead program PRN-001-01 (tezampanel) is being clinical developed as a treatment option for opioid withdrawal and related disorders of addiction. Although effective treatments exist for opioid addiction, painful and difficult withdrawal is one of the primary reasons why current treatment fails, and relapse occurs. By alleviating the symptoms associated with opioid withdrawal, Proniras hopes to help patients successfully discontinue opioid usage and sustain an opioid-free life. Proniras was formed in 2017 by Accelerator Life Science Partners.