RespireRx Pharmaceuticals Inc (RSPI)

[oldstocks]

ResolutionRx Ltd subsidiary of RespireRx Pharmaceuticals Inc.

Key details about the company:

Formation and Purpose: ResolutionRx Ltd was formed in Australia on January 11, 2023, as an unlisted public company by RespireRx.
The subsidiary was established with the aim of discovering and developing medicines for the treatment of psychiatric and neurological disorders.

Focus on Obstructive Sleep Apnea (OSA): ResolutionRx is particularly focused on treatments for sleep-related breathing disorders such as obstructive sleep apnea (OSA). OSA is a condition that affects millions of people worldwide and is associated with decreased quality of life and significant functional impairment.

Repurposing Dronabinol: The company is repurposing dronabinol for the treatment of OSA. Dronabinol was first approved in the United States in 1985 and is currently approved for anorexia associated with AIDS and chemotherapy-induced nausea and vomiting.

Financing Research and Development: ResolutionRx has entered into a Letter of Intent (LOI) and Term Sheet with Radium Capital to finance anticipated Research and Development Credits. This arrangement is designed to unlock research and development tax credits available in Australia.

Non-Dilutive Funding: The agreement with Radium Capital creates a means of realizing the Research and Development Tax Incentive (R&DTI) funds well in advance of the annual cash receipt from the Australian government. This provides a valuable non-dilutive means of supporting ResolutionRx’s R&D efforts towards the commercialization of dronabinol for the treatment of OSA.
ResolutionRx Ltd is actively working towards the development and commercialization of cannabinoids such as dronabinol for sleep-related and other breathing disorders, leveraging the support and resources provided by its parent company, RespireRx Pharmaceuticals Inc.