Scottish device company 1nhaler has raised £2 million for development of a credit-card sized dry powder inhaler in a funding round led by Archangels, the investment firm announced. The 1nhaler device is made out of cardboard, contains a single dose of carrier-free API deposited on a membrane, and is breath-activated.
According to the announcement, 1nhaler was founded by the device’s inventor, Don Smith, in 2017. The 1nhaler team also includes GMPharma Senior VP, and former Head of GSK’s Dry Powder Inhaler Respiratory Centre of Excellence, Helen Muirhead in the role of Chief Scientific Officer.
1nhaler CEO Lisa McMyn commented, “Our DPI has the potential to become the simplest, most convenient single-dose, disposable inhaler on the market, revolutionizing the delivery of critical drugs, without the cost and environmental impact of existing devices. Securing funding from Archangels is invaluable for the next steps in the 1nhaler’s development. Their life sciences expertise and patient capital approach are exactly what we’re looking for in a funding partner.”
Archangels Director and Head of New Investments Sarah Hardy said Don, Lisa and the team at 1nhaler have developed a truly innovative technology platform with a clear route to market and opportunity to positively disrupt the status quo of single-dose medicine delivery. We’re proud to add 1nhaler to our portfolio of Scotland’s leading life sciences and technology businesses and look forward to working with them to increase the availability of life-saving drugs affordably and sustainably.”
Read the Archangels press release.
