Melt Pharmaceuticals secured $24 million in Series B preferred stock financing from new and existing investors, according to a press release.
The funds will be used to advance the development of MELT-300, a non-IV, nonopioid tablet for procedural sedation. The tablet, which is delivered sublingually, combines fixed doses of midazolam 3 mg and ketamine 50 mg.
The first patient is expected to be dosed with the tablet in a phase 3 program in the second quarter, with a topline readout expected in the fourth quarter.
As Healio previously reported, MELT-300 (Read more...)