STRATEGY

Market Opportunity

The prescription opioid market is projected to reach $35B by 2025. We believe that PPL-103 has the potential to reach annual sales of $2B by 2028 assuming less than 10% capture of US prescription volume. The company anticipates that PPL-138 has similar potential in terms of market penetration, as it will focus specifically on chronic pain. According to P&S Intelligence, the chronic pain treatment market is growing due to the rising prevalence of chronic conditions and a surging geriatric population, and is expected to reach $105.9B by 2024.

STRATEGIC FOCUS

The strategic objective of the company is to partner with appropriate market leader(s) that have the resources to maximize the market potential of the Phoenix compounds. Several leading pharma companies that have a strategic focus on pain have indicated interest in partnering by the end of Phase 1. We plan to advance both PPL-103 and PPL-138 into Phase 1 trials in 2021 and then to continue to Proof of Concept, positioning them for optimal deal terms – through a license or acquisition – by 2023.

Funding

Phoenix has received strong validation of its science from the NIH and the USAMRMC, which awarded the company grants of about $3 million to fund the advancement of PPL-103 into human clinical trials. That has been supplemented that with approximately $3 million of private equity investment including a $1.1 million online public offering of private securities in 2019 that was oversubscribed under SEC Rule CF. The company is currently applying for additional grants as well as raising funds through private equity investment to fund the further advancement of its compounds.