According to OptiNose, the company has completed a Series C-1 round of financing that will support development of its second product, OPN-375 intranasal fluticasone. The company, along with partner Avanir, submitted an NDA for its first product, AVP-825 intranasal sumatriptan for the treatment of migraine, in January 2014.
According to the company, its bi-directional device delivers fluticasone ” into the nasal cavity in a deeply distributed manner that improves upon prior approaches to intranasal drug delivery” and Phase 2 data “suggest that OPN-375 has the potential to be a breakthrough product that could be transformational in the treatment of serious chronic nasal inflammatory diseases like chronic rhinosinusitis with nasal polyps.”
OptiNose CEO Peter Miller commented, “With this latest round of financing, we are well-positioned to take the actions necessary to maximize the potential of our second product, OPN-375, which we believe will be a transformational breakthrough product in a large market with significant unmet need. I am proud of the OptiNose team and the progress we have made together to date. I am also very excited about the future, as we continue late-phase clinical research, prepare commercial supply chain, and engage in pre-commercialization efforts around OPN-375.”
Read the OptiNose press release.
