Boston, MA – According to filings with the U.S. Securities and Exchange Commission, NeuroBo Pharmaceuticals is raising $14,000,000.00 in new funding. Sources indicate as part of senior management President and Chief Executive Officer, Richard Kang played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals is addressing unmet needs in patients with diabetic neuropathy and Alzheimers disease. Our Phase III-ready drug, NB-01, is based on natural sources and has shown successful Phase II results with excellent efficacy and safety in diabetic neuropathic pain (DNP) and we have strong preclinical data in both neuropathic pain and diabetes models showing a mode of action of NB-01 on nerve growth factor (NGF) release for nerve stabilization and regeneration. 40 to 50 percent of patients with diabetic peripheral neuropathy have some form of neuropathic pain and while existing drugs alleviate pain symptoms, they do not address the underlying disease. These current therapies also have a range of adverse effects, and only about 50 percent of patients respond positively. Additionally, the current therapies on the market were all initially approved for other disease states such as depression and fibromyalgia. NB-02, our lead Alzheimers drug, is in IND-enabling stage and has been extensively characterized in rodent models for mechanisms impacting Alzheimers disease (inhibition of AChE, pTau, amyloid, and stimulation of NGF for nerve growth. An aging population has resulted in an increase in the prevalence of Alzheimers disease, and the disease is a significant healthcare burden. Today, there are four approved drugs that manage the symptoms of Alzheimers disease, yet none of these four address disease modification.

To learn more about NeuroBo Pharmaceuticals, visit http://www.neurobopharma.com/

Contact:
Richard Kang, President and Chief Executive Officer
857-702-9600
https://www.linkedin.com/in/richard-kang-202ab01a/

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