Bryn Pharma, a Raleigh, N.C.-based pharmaceutical company dedicated to finding a new way for patients and caregivers to treat anaphylaxis, raised $17.5m in fourth financing.
This financing included $15.0m in proceeds from existing and new investors comprised of investment funds, family offices and private investors. An additional $2.5m in financing was provided by a corporate collaborator.
The company intends to use the funds for U.S. approval and to preparation for commercialization of BRYN-NDS1C, its bidose epinephrine nasal spray.
Led by David Dworaczyk, Ph.D., CEO, Bryn Pharma is advancing the Bryn Intranasal Epinephrine Spray (BRYN-NDS1C) product candidate, which is designed to provide patients with a life-saving treatment that fits in a pocket, is easy-to-use and complies with practice parameters by containing two doses of epinephrine in one portable device, replacing the need to carry two emergency auto-injectors.
Over the last three years, the company has conducted extensive preclinical and clinical trials of BRYN-NDS1C designed to support regulatory submission and approval to market the product candidate. In early 2019, the U.S. Food and Drug Administration (FDA) granted Fast Track Designation to BRYN-NDS1C.
Bryn Pharma has completed pilot studies demonstrating the proof of concept of the innovative treatment, and in October 2019 completed dosing in the pivotal human trial designed to support U.S. approval to market the product candidate.