PainCeptor Pharma Raises $24.4 M Series B Investment Round

    Novel Pain Therapeutic Drug Candidates to Enter Clinical Development

    MONTREAL, March 6 /CNW Telbec/ - PainCeptor Pharma Corp., a
pharmaceutical company focused on the development of novel therapeutics for
the treatment of chronic and acute pain, today announced it has raised $24.4 M
in a Series B investment round. Investors in this round include: Desjardins
Venture Capital, CDP Capital (managed by VantagePoint Venture Partners),
T2C2/Bio 2000, Business Development Bank of Canada, and Lothian Partners
27 (sarl) SICAR. To date, PainCeptor has raised a cumulative total of $47 M in
venture capital funding.
    PainCeptor's two major pain therapeutic programs, targeting NGF (nerve
growth factor) and ASICs (acid sensing ion channels), are in late pre-clinical
development and are both on track to enter Phase I clinical trials later this
year. The proceeds of this investment round will be used primarily to advance
these pain programs into clinical development, expand PainCeptor's
intellectual property portfolio, and enhance the company's product pipeline.
    "Despite the high number of under-treated pain sufferers, there have been
few new drugs in recent years with novel mechanisms of action that combine
strong efficacy with reduced side effects" commented Dr. Gary Bennett, Canada
Senior Research Chair, Department of Anesthesia and Faculty of Dentistry,
McGill University. "With its NGF and ASIC antagonist programs, PainCeptor is
well positioned amid the leading developers of the most promising next
generation therapies to address these large and growing needs."
    "We are very excited about the potential of our clinical candidates to
treat pain by targeting the peripheral nervous system and provide much needed
improvements in pain therapeutics" added Dr. Louis Lamontagne, President and
CEO of PainCeptor. "This financing will enable us to rapidly advance our two
lead programs into the clinic".

    About PainCeptor Pharma

    PainCeptor Pharma is a pharmaceutical company developing next generation
therapeutic drugs for the treatment of chronic and acute pain. PainCeptor's
therapeutic programs are concentrated on some of the most promising, novel,
yet scientifically validated therapeutic targets within the PNS (peripheral
nervous system). By focusing on modulating target receptors in the PNS,
PainCeptor expects to enhance the efficacy and avoid the many detrimental side
effects associated with today's pain drugs which act primarily in the CNS
(central nervous system). PainCeptor's development pipeline includes two lead
antagonist programs, targeting NGF/p75-TrkA and ASIC1a, and a third antagonist
program targeting ASIC3.

For further information:

For further information: please visit our website at
or contact: Dr. Louis Lamontagne, President and CEO, PainCeptor Pharma Corp.,
(514) 337-5959, x 116,

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