Market Opportunity

The market for opioids is estimated to be $30 billion and growing … But the potential for PPL-138 goes beyond that because many people in the world are in severe pain without access to adequate pain control because of fears of addiction liability. Recent research has demonstrated that PPL-138 also has potential for treatment of addiction as well as for treatment of PTSD, thus expanding the market potential further.


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 or addiction have indicated interest in partnering by the end of Phase 1. We plan to advance PPL-138 into Phase 1 clinical trials by 2024 and then advance it to Proof of Concept in 2025 in order to position it for optimal deal terms.


Phoenix has received strong validation of its science from the NIH and the DoD, which together awarded the company grants of more than $12 million to fund the advancement of its compounds. Grant funds have been supplemented with approximately $6 million of private equity investment including a $2 million online public offering of private securities that were 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.