Cumberland drug company raises $3M seed round to develop cannabis-derived lung treatment

A Cumberland drug company has raised $3 million in funding as it works toward gaining approval for a new cannabis-derived treatment for lung diseases. RS BioTherapeutics plans to use the capital from its second seed round to focus on developing a medication for chronic obstructive pulmonary disease, or COPD. Co-founder and Chief Strategy Officer Justin Molignoni said the company will apply for an investigational new drug application from the U.S. Food and Drug Administration and hopes to submit …
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news