Delphian Therapeutics Awarded $2.9M Phase 2 SBIR Grant from NIH to Advance Cannabinoid Migraine Drug to First-in-Human Clinical Trials

Sep 2024

The $2.9M follows grant from the National Institute on Drug Abuse enables Delphian to use its Seed Financing toward a phase 1 clinical trial.

Delphian Therapeutics has been awarded a $2.9M Phase 2 SBIR grant from the U.S. National Institutes of Health(NIH) to advance the development of S1-221, its patented, optimized CBD:THC formulation for the treatment of migraine.

The grant, from the National Institute on Drug Abuse (NIDA), will fund Delphian through FDA Investigational New Drug (IND) clearance and into Phase 1 clinical trials.

The NIH grant also has significant implications for how the company deploys its existing capital. Delphian's approximately $3M Seed Financing, raised in 2023 and 2024, can now be directed not only toward completing the Phase 1 trial but also toward expanding the company's pipeline into indications beyond migraine.

With IND-enabling work funded by the NIH, Delphian's planned Series A financing will now drive completion of Phase 2 clinical trials. Phase 2 is a critical inflection point in biotech development. As one precedent, Eli Lilly acquired the migraine drug lasmiditan after Phase 2, while in Phase 3, for $960 million.

The award also elevates Delphian's eligibility for additional large-scale government grants in both the U.S. and EU to support Phase 2 trials and related R&D in optimized cannabinoid therapeutics. These efforts are expected to generate additional intellectual property and strengthen the company's position as a leader in this emerging drug class.

Delphian is transitioning from a preclinical company into a clinical-stage company with one of the world's largest indications advancing into clinical trials, an expanding pipeline of drugs in development, and growing momentum as federal cannabis rescheduling is expected to accelerate cannabinoid R&D toward FDA-approved medicines.