Cingulate Receives $3M Grant From Private Foundation

Posted April 10, 2025

Cingulate Inc., a Kansas City-based biopharmaceutical company, has received a $3 million grant to accelerate the development of its anxiety medication.

The grant will be paid from a private foundation in three increments of $1 million. The first payment is scheduled for May 1, while the two following payments will be made to the company based on specified product development milestones, according to a Wednesday release.

CTx-2103 is a once-daily treatment for anxiety and anxiety-related disorders currently under development at Cingulate. The drug is a muti-release tablet that uses buspirone. Six months after the first commercial sale of CTx-2103, the private foundation will receive royalties for the product. The foundation would receive payments of $500,000 per quarter, with a maximum cumulative royalty of $3.5 million.

“We thank the foundation for this funding for the development of CTx-2103, which advances Cingulate’s pipeline and illustrates the applicability of our PTR™ platform,” chairman and CEO of Cingulate, Shane Schaffer, said in the release. “Today, we are one step closer to providing the first, once-daily medicine for the millions of patients worldwide who suffer from anxiety-related disorders, the most common mental health issue in America and around the world.”

Buspirone is one of the most widely prescribed agents in the $5.5 billion U.S. anxiety market and the $11.6 billion anxiety market worldwide. CTx-2103 uses the company’s proprietary precision timed release technology allowing the drug to be released at pre-defined times as its layers erode following ingestion.