RespireRx Pharmaceuticals Inc. Announces Commencement of Rule 506(c) Private Placement

Core Viewpoint - RespireRx Pharmaceuticals Inc. is initiating a Regulation D, Rule 506(c) exempt offering of securities, targeting a raise of up to $45 million to support its research and development efforts across its affiliated entities [1] Summary of the Offering - The financing will support ongoing and future research and development and clinical programs across RespireRx, EndeavourRx LLC, and ResolutionRx Ltd [2] Capital Allocation and Use of Proceeds - The funds will be allocated as follows: - ResolutionRx Ltd: $15 million for advancing a proprietary dronabinol formulation for obstructive sleep apnea (OSA), including PK/PD studies and a Phase 3 clinical trial [5] - EndeavourRx LLC: $25 million for developing AMPAkines and GABAkines, with funding from the U.S. Department of Defense and NIH [5] - RespireRx Pharmaceuticals Inc.: $5 million for corporate operations and intellectual property management [5] About RespireRx Group - RespireRx Group focuses on developing treatments for psychiatric and neurological disorders, including epilepsy, ADHD, spinal cord injury recovery, and OSA [2][3] - The group is developing a pipeline of new and repurposed drug products based on two platforms: neuromodulators (AMPAkines and GABAkines) and pharmaceutical cannabinoids [2] EndeavourRx LLC: Neuromodulators - EndeavourRx has developed a family of AMPAkines, including CX717 and CX1739, which have shown potential in treating CNS-driven disorders and have completed Phase 1 safety trials [4][7] - The company is also focusing on GABAkines for treatment-resistant epilepsy and non-opioid pain, with promising preclinical results [9][10] ResolutionRx Ltd: Pharmaceutical Cannabinoids - ResolutionRx is developing a new formulation of dronabinol for OSA, targeting a large patient population with no approved drug treatments [14][15] - The total budget for the dronabinol program is approximately $16.5 million, with a significant portion expected to qualify for the Australian R&D Tax Incentive [14] Research and Development Achievements - KRM-II-81, a GABAkine, has shown high anti-convulsant activity in preclinical studies and does not develop tolerance, making it a potential treatment for epilepsy [10][11] - Dronabinol has demonstrated significant improvement in OSA symptoms in previous clinical trials, indicating its potential for repurposing [14][15]