Biotech CEO takes aim at Pentagon for not funding PTSD drug

Feb. 19, 2019

The head of a small biotech firm had sharp words for the Pentagon over its lack of financial support for research into an experimental PTSD drug.

During a recent interview with Fox Business, Seth Lederman, the CEO of Tonix, said he was surprised that the Department of Defense was not doing more to back trials of its drug, Tonmya, which is aimed at improving sleep for patients with trauma-related nightmares. 

Lederman said that Tonix has a cooperative research and development agreement with the Pentago, but that the DOD still needed to “step up” and make a commitment to developing the drug.  

"It's particularly surprising because investors in biotech — if they've got 10 or 20 portfolio companies — their prostate cancer company has gotten Army money, their breast cancer company has gotten Army money, their Duchenne muscular dystrophy company has gotten money. And they're just scratching their heads on why Tonix” has not gotten money, he said. 

A spokeswoman from the DOD said that Tonix’s data did not provide enough evidence that Tonmya provides enough “clinical benefit” for PTSD treatment, and that the DOD is committed to funding research into multiple drugs at once. 

Tonmya was granted breakthrough designation from the FDA, and Tonix is hoping to re-launch human trials of the drug later this year. 

Read the full Fox Business report.