Impel NeuroPharma Inc., a Seattle, WA-based biopharmaceutical company specializing in developing enhanced CNS products based on its proprietary Precision Olfactory Delivery (POD) technology, closed the first tranche of its $12m Series B financing round.
The round, which was led by 3M New Ventures (3M NV), was part of the recently announced strategic alliance between 3M Drug Delivery Systems and Impel.
The company intends to use the funds to commercialize its technology.
Led by CEO Michael Hite, Impel develops POD technology that deposits drugs deep into the upper nasal cavity where it can achieve delivery into the brain and CNS. POD is a handheld, non-invasive means for delivering CNS therapeutics that can be self-administered by a patient, caregiver, physician, or even family member.
The company is now committed to improving the delivery of CNS therapeutics and is growing its pipeline of internal products through its INP-101, INP-102 and INP-104 programs. The INP-104 product candidate is in late-stage development to improve the treatment of drug-resistant migraine in patients who have failed front-line triptan therapy. INP-101 is in clinical development to improve the management of pain in patients who have difficulty tolerating traditional systemically administered opioids yet require reliable and rapid analgesia. Its novel Alzheimers Disease product candidate, INP-102, is currently in multiple later-stage clinical trials, including Phase 2 and Phase 3a studies.