According to Qnovia, which recently changed its name from Respira Technologies, the company has closed a $17 million Series A financing round led by Blue Ledge Capital, with the funds intended to support development of the company’s RespiRx inhaled nicotine replacement therapy (NRT). The company said that it intends to submit an IND for the NRT product and anticipates initiating the clinical program next year.
Qnovia’s cartridge-based delivery device is described on the company’s web site as an “orientation agnostic vibrating mesh nebulizer” that “facilitates intuitive and efficient pharmaceutical dosing, to significantly increase patient compliance and reduce potential misuse.”
Blue Ledge Capital Founder Andy Roche said, “We are thrilled to be backing this new platform for inhaled therapeutics, and our participation in this round reflects not only our confidence in the technology but in Qnovia’s management’s ability to bring it to consumers and patients. We are excited by the possibilities that exist beyond NRT for this innovative new drug platform and look forward to supporting them on this journey.”
Qnovia CEO Brian Quigley commented, “This Series A closing represents a major milestone for Qnovia as we seek to develop an initial proof of concept for our platform in NRT before expanding into additional therapeutic indications. Once the FDA approves our Investigational New Drug (IND) application, we plan to initiate a Phase 1 study for NRT in 2023. As we pursue NRT authorization, we aim to identify significant expansion indications to pursue both alone and with partnerships.”
Read the Qnovia press release.
