Financing led by Biotech Specialist Funds and a Generalist with significant participation from Series A investors
Proceeds will support the Phase 3 Program for patients with Cannabis Use Disorder
PHOENIXVILLE, Pa., Oct. 21, 2025 /PRNewswire/ — PleoPharma, Inc., a privately held company focused on finding treatments for cannabis-related health issues, announced today the closing of a $36MM Series B financing round.
PleoPharma will use the proceeds to advance its lead asset, PP-01. This investigational product is currently the first, and only Fast Track-designated treatment for the mitigation of Cannabis Withdrawal in patients with Cannabis Use Disorder, which is now entering Phase 3.
“Recent government data from SAMHSA reported that cannabis addiction continues to accelerate with over 20 million people reported to have Cannabis Use Disorder in the US, an underserved population with no effective or FDA approved solution. We are grateful to have the partnership of this incredible group of new and existing investors who share our commitment to deliver first in class treatments for those with cannabis addiction and withdrawal,” said Ginger Constantine MD, co-founder and CEO of PleoPharma, Inc.
SuperVision Partners LLC served as the lead placement agent for the offering along with Castle Hill Capital Partners, Inc.
About cannabis withdrawal/cannabis use disorder
The US Government (SAMHSA) reported that in 2024, ~20.6 million Americans had cannabis use disorder. Between 2018 and 2023, the reported number of individuals who received treatment for cannabis-related health problems grew an average of 27% annually (samhsa.gov). People with cannabis use disorder commonly experience significant withdrawal symptoms for which there are currently no FDA approved medications.
“We recognize that many people do use cannabis without becoming dependent”, said Ginger Constantine, “but as with alcohol, some may develop a dependence or use disorder that is worsened by withdrawal symptoms. Our mission is to provide a treatment option for those who want help discontinuing cannabis.”
About PP-01
PP-01 is a dual mechanism of action investigational product that targets suppressed CB1 receptors and neurotransmitter dysregulation in the mesolimbic reward pathway. PP-01 is entering Phase 3 and has the potential to be the first-in-class treatment to mitigate the withdrawal symptoms experienced by many patients with cannabis use disorder (dependence/addiction). PP-01 is intended as a once daily oral product with a rapid onset of action and excellent safety and tolerability.
About PleoPharma, Inc.
PleoPharma, Inc. is a clinical stage development company in the neuropsych and addiction space focused on finding solutions for people suffering from cannabis addiction and other cannabis-related health problems.
The PleoPharma team includes a world class management team and board of directors who have produced multiple high value exits, >50 worldwide product approvals, and 100+ INDs.
For more information on PleoPharma Inc., please visit www.PleoPharma.com or email Dawn Halkuff, head of Investor Relations at [email protected].
This release includes ‘forward-looking statements’ regarding the operations of PleoPharma, Inc., actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical facts contained herein are forward-looking statements that reflect the current beliefs and expectations of management of PleoPharma. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. PleoPharma does not undertake or accept any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE PleoPharma, Inc
