Ensysce Biosciences Secures $60M in Funding
Ensysce Biosciences Inc., a San Diego, CA-based clinical phase company launching two new classes of novel opioids designed to treat severe pain, and eliminate opioid misuse, abuse and overdose, secured $60m in funding. GEM Global Yield LLC SCS will provide Ensysce with a share subscription facility of up to $60m for a 36-month term following the public listing of the companyâ€™s common stock. Ensysce will control the timing and maximum amount of drawdown under this facility and has no minimum drawdown obligation. Concurrent with a public listing of its shares, the company will issue warrants to GEM to purchase outstanding common stock of the company. The company is led by Lynn Kirkpatrick, PhD, CEO, and Richard Wright, CBO, and Geoff Birkett, CCO.