Crown Point, Ind.-based OYE Therapeutics has closed a $5 million convertible note financing round, oversubscribed to $5.6 million, to advance its intravenous caffeine-based therapy into clinical trials.
The treatments aim to “reverse general anesthesia, sedation and opioid-induced respiratory depression,” according to a Dec. 5 news release. Proceeds will support a phase 1 pharmacokinetic and safety study and future pivotal trials.
OYE plans to release clinical data in 2026. The company is headquartered at the Purdue Technology Center of Northwest Indiana.
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