Intranasal drug developer Impel NeuroPharma has received $21 million in the initial tranche of a Series C financing round, with another $15 million available on completion of development and business milestones, the company said. Investors venBIO, 5AM Ventures and Vivo Capital, contributed equally.
Impel NeuroPharma CEO John Hoekman said, “The nasal cavity is a vastly underutilized entry point for therapeutics into the circulation. Our POD nasal delivery platform is designed to deliver therapeutics into the deep nasal cavity. This form of administration may allow for an improvement in biodistribution and consistency compared to current delivery methods. Impel NeuroPharma is striving to use the POD system to develop improved drug-device combination products in underserved patient populations.”
The company’s pipeline includes intranasal therapies for migraine, Alzheimer’s disease, Parkinson’s disease, pain, and depression based on its proprietary delivery device.
Read the Impel NeuroPharma press release.
