Marketed therapies for neuropathic pain can have severe central nervous system side effects that limit their use. Spinifex Pharmaceuticals Pty. Ltd. thinks its EMA401, a first-in-class selective angiotensin II type 2 receptor antagonist, will be safer because it acts only on the peripheral nervous system and is effective at lower doses than current therapies.

Spinifex hopes to begin Phase II trials in late August or September using the A$6.3 million ($6.5 million) it received last week in the final tranche of an A$18.3 million series B round.