Question 1

What was the valuation on your 12/17 priced round? Why crowdfunding vs. traditional public biotech listings on the OTC or Canadian Venture exchanges? Do you have IP that's defendable? Thanks for your time, I like what you're trying to accomplish!

Accepted Answer

Hello Barnaby, happy to answer these. Our valuation in our 12/17 round was 3 million. We chose crowdfunding on Wefunder due to the number of people who have contacted us individually and expressed a desire to invest at a small scale. Many acquaintances expressed interest to us since our inception, but we haven't had the time to individually work through each contract. Using Wefunder, we can give each party a full picture and make sure they are completely informed, while providing a simple way...

Question 2

Interesting molecule that from the limited information appears to work by blocking pain neurotransmission-Is this then a drug for neuropathic or somatic pain or both? secondly venturing in to phase 1-3 trials requires huge funding and we have seen many biotech start up firms o...

Accepted Answer

Hello Palliankal. Thanks for reaching out. Your understanding is essentially correct: our drug targets overactive sensory neurons, and has the potential to treat many kinds of peripheral pain. So to answer your first question, it is a drug for both kinds of pain. In regards to your second question, I assume you're asking about how we will fund clinical trials. We anticipate U.S. government grant support for Phase 1 trials (especially given newly allocated funding for development of new, non-o...

Question 3

What is your exit strategy? Do you intend to pay a dividend past Phase three?

Accepted Answer

Hello Craig. We plan to partner with a larger pharmaceutical company at or after Phase 1 clinical trials. This will be either through a licensing agreement for N-001, or an acquisition of our company. Dividend payments, or other form of profit-sharing, will depend on the structure of our exit, but may come sooner than Phase 3.

Question 4

Hi, does the SAFE converts to preferred stock or common stock?

Accepted Answer

Good question. SAFE converts to preferred stock. Paul

Question 5

Mr. Blum- How long(years) do you foresee before a larger pharmaceutical company purchases your drug. Asking as an investor for time frame. Thank you and good luck!

Accepted Answer

We could expect our drug to be purchased (or licensed) within 1-2 years corresponding to stages in its development. Stage one is when the FDA (Food and Drug Agency) approves our IND (Investigational New Drug) application because it means we can start human clinical trials. Stage two is when we complete Phase I human trials with a successful outcome, that would be that our drug is safe.

Neurocarrus

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Neurocarrus

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