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2022-06-24| FundingTechnology

Brain Freeze, Iceland Based Pharma Company Gets Funding for ADHD R&D

by Eduardo Longoria
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3Z, a Reykjavik based drug discovery company announced its most recent funding round. In addition to being the 10th round it is also the most valuable by far, clocking in at $2 million. This privately held company, founded in 2008, is inspiring hope in its investors in the pharmaceuticals and medical technology fields with its neurological research platform. 

 

New ADHD Drugs

 

Particularly, this funding will go towards research regarding the finalization of preclinical studies on 3Z’s lead therapeutic candidates in ADHD and insomnia. The insomnia medication encompasses a novel mechanism of action that may combat insomnia and metabolic syndrome. These lead therapeutics were initially tested in the zebrafish platform developed by 3z and now are being re-assayed in mammalian models, replicating, extending and validating the therapeutic potential of the compounds. 

In addition to having an advantage in the development process 3z’s proposed treatments will not be stimulants like Adderall or other earlier ADHD medications. As a result they will be able to avoid the cardiovascular and behavioral risks that come with those medications. Novel ADHD therapeutics like these are poised to fill a gap in the market made by non-responders and those sensitive to effects of stimulants. 

Related article: UK Launches World-First Program With Two Antimicrobial Drugs to Counter Superbugs 

 

Unique Platform for ADHD Research

 

3z’s unique platform for neurological research and drug trials is based on the zebrafish (Danio rerio). The Zebrafish has 70% genetic and physiological similarity to mammals and makes a good research animal for neuroscience research due to the abundance of similar signaling proteins in the brains of both humans and Zebrafish. Several human neurological disorders also have counterparts in these fishes. For example, the one-eyed pinhead is a Zebrafish mutant which contains a smaller ventral brain and a single eye. This disorder is often compared to the human disorder ‘holoprosencephaly’, in which patients have a small brain and one eye. Studying this condition in zebrafish has led to the identification of several genes associated with this condition, such as CFC1.

Coming with the benefits of their internal similarities to humans these creatures also have the benefit of being small, adult zebrafish 3 cm long, having a low cost of maintenance, high fecundity (200–300 embryos by single female at one mating), excessive transparency for several days post fertilization and rapid embryonic development.

 

What is to Gain? 

 

“We are extremely pleased to welcome the investors onboard, which significantly strengthen and deepen the company’s network and competencies for moving forward. 3Z now has the financial means to forge ahead, getting our current assets ready for the clinic and managing outsourcing activities while initiating the next screens.”

The $2 million investment stands to gain a lot in the servicing of the ADHD and insomnia markets. The novel mechanism used in insomnia therapy could benefit between approximately ¼ and ½ of the adult population depending on the state. Alongside this fact approximately 1 out of every 11 children are diagnosed with ADHD in the US. Given this gigantic serviceable market and the problems with many current ADHD medications 3Z pharmaceuticals has a substantial opportunity in front of it and patients can look forward to a new approach to their neural conditions.

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