Chromocell Therapeutics CEO Frank Knuettel issues letter to stockholders

Chromocell Therapeutics announced that its Chief Executive Officer, Frank Knuettel, has issued the following letter to stockholders: “With my inaugural letter to stockholders, I am pleased to provide an update on our recent initial public offering share our mission, outline the current status of our development programs, and discuss our growth and operational plans. We successfully closed our IPO on February 21 raising gross proceeds of approximately $6.6M. Notably, almost all shares of common stock held by 5% holders, directors and officers of the Company prior to the IPO are subject to formal lock-up agreements….We expect that the net proceeds from our IPO will allow us to focus on accelerating the development of a portfolio of non-opioid pain treatments and related therapies. Opioids effectively treat pain, but their use often leads to serious side effects, including addiction and mortality. Despite the explosive growth of opioid addiction and the ongoing suffering of many patients, there has been a lack of new pain treatment therapies. We intend to build a robust pipeline of products to address several pain indications with molecules that show no addictive or euphoric properties.” *