Funding Round Details
- Company: AJNA BioSciences
- Security Type: Equity - Preferred
- Valuation: $40,000,801
- Min Investment: $250
- Platform: Wefunder
- Deadline: Oct 3, 2024
Summary
In this exclusive interview, our senior investment analyst, Léa Bouhelier-Gautreau, traveled to Denver to meet with AJNA BioSciences founder and CEO Joel Stanley and tour the company’s laboratory. Joel shares insights on AJNA’s mission to revolutionize pharmaceutical medicine through botanical drugs. Discover AJNA’s groundbreaking approach in developing FDA-approved medicines derived from natural botanicals, including their innovative treatments for autism spectrum disorder and depression using cannabinoids and psilocybin. Joel also reveals key achievements following their successful equity crowdfunding round and outlines AJNA’s ambitious plans for the future.
What does AJNA BioSciences do?
AJNA BioSciences is a botanical drug development company, creating natural pharmaceuticals from medicinal plants to obtain FDA approval. We currently have four botanical drugs in development, including treatments for autism spectrum disorder and depression.
Can you tell us more about your first two drugs?
Our first drug, AJ 001, targets autism spectrum disorder and is notable for being potentially the first fully systemic botanical drug approved by the FDA for autism. Our second drug, AJ 002, is a full-spectrum psilocybin-based daily microdose aimed at providing a superior alternative to traditional antidepressants.
AJA002 drug vault
How has the $1.2 million raised through equity crowdfunding impacted your progress?
With the funds raised, we’ve completed phase one clinical trials for our autism drug and filed with the FDA for phase two. We’ve also advanced preparations for filing an Investigational New Drug (IND) application for our psilocybin drug.
What are your milestones for 2025?
In 2025, we aim to complete phase two clinical trials for our autism drug and finish phase one trials for our psilocybin antidepressant. By year’s end, we plan to have two drugs nearing advanced clinical trial phases.
How will you use the funding from your next crowdfunding round?
The funds will primarily support the phase one clinical trial for our psilocybin drug and formulation development for our third and fourth botanical drugs.
Why did you start AJNA BioSciences with botanicals from prohibited plants?
Despite regulatory challenges, cannabinoids and psilocybin exhibit some of the strongest efficacy signals among natural medicines. We aim to provide regulated, pharmaceutical-grade botanical drugs covered by insurance to those already benefiting from self-medication.
AJNA’s bioreactors
What is the market size for your first two drugs?
Our autism drug addresses approximately 4.3 million people in the U.S. experiencing irritability associated with autism. The antidepressant market targeted by our psilocybin drug is significantly larger, with a U.S. market size around $7 billion annually.
What's the difference between botanical and synthetic drugs?
Botanical drugs contain standardized full-spectrum plant extracts with multiple molecules working synergistically. In contrast, conventional synthetic drugs are typically single molecules created artificially, differing substantially from natural botanicals.
Aubrey Schoneboom, Analytic Laboratory Technician
What led you personally to found AJNA BioSciences?
My journey began with founding Charlotte’s Web, the pioneering CBD company inspired by the life-changing story of Charlotte Figgy. Recognizing the therapeutic power of botanical medicine and recent regulatory pathways, I founded AJNA BioSciences to provide clinically-backed botanical medicines accessible through healthcare providers and insurance.
