SEATTLE--(BUSINESS WIRE)--Impel NeuroPharma Inc., (Impel) today announced the first close in its Series B financing round to commercialize the company’s revolutionary Precision Olfactory Delivery (POD) technology for the enhanced delivery of drug products to the brain and Central Nervous System (CNS). 3M New Ventures (3M NV) led the investment and was part of the recently announced strategic alliance between 3M Drug Delivery Systems and Impel.
The first close is part of Impel’s $12 million Series B funding round. Other details of the transaction were not disclosed.
“We are excited to have 3M NV participate in our Series B round,” said Impel CEO Michael Hite. “We look forward to accelerating the commercialization of the POD technology and continuing our clinical stage development programs in Alzheimer’s Disease, migraine, and pain management.”
Impel’s POD technology deposits drugs deep into the upper nasal cavity where it can achieve delivery into the brain and CNS. POD is a handheld, cost-effective, non-invasive means for delivering CNS therapeutics that can be self-administered by a patient, caregiver, physician, or even family member.
About Impel NeuroPharma
Impel NeuroPharma Inc. is a biopharmaceutical company specializing in developing enhanced CNS products based on its proprietary Precision Olfactory Delivery (POD) technology.
Impel is committed to improving the delivery of CNS therapeutics and is rapidly growing its pipeline of internal products through its INP-101, INP-102 and INP-104 programs. The Company's 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.
Impel is based in Seattle, WA. For more information visit www.impelneuropharma.com.