Xenome has completed a financing of A$8 million (roughly $6.22 million) to support the ongoing development of antipain medication Xen2174. It is a 13-amino acid synthetic peptide.
Xenome is developing Xen2174 for the management of moderate to severe pain. It has reportedly shown promise as a non-opiate pain therapeutic when administered intrathecally. The compound is a highly selective and non-competitive inhibitor of norepinephrine transporter (NET), a validated target for the management of pain.
The current financing is intended to help with a Phase II placebo-controlled multicenter trial of Xen2174 in a post bunionectomy surgical patient population. This trial is intended to demonstrate Xen2174's potential to provide improved postoperative pain relief for an extended period following a single intrathecal administration immediately prior to surgery.
Xenome is focused on the discovery and development of peptide-based therapeutics. Xen2174 is the firm's lead molecule. It also has an anti-inflammatory discovery program in pancreatitis.