Impel NeuroPharma has announced new funding for development of its Pressurized Olfactory Delivery (POD) device from a variety of sources. The company says that in addition to closing on over a half million dollars of equity investment from “angel investors experienced in the pharmaceutical and medical device industries,” it has also entered into collaborations with two major pharmaceutical companies.
This additional funding comes shortly after publication of data showing that the POD device delivers opioids to the central nervous system more efficiently than conventional nasal delivery devices. Impel’s Chief Scientific Officer will be presenting posters at the upcoming AAPS meeting about other applications, including delivery of biodefense agents, anti-viral drugs, and PET imaging tracers.
“We are carefully expanding the body of evidence demonstrating the POD technology’s ability to bypass the blood-brain barrier enabling delivery via the nose-to-brain pathway,” explained Hoekman; “We now have data that has been generated from studies across a broad range of applications that allow us to best select the most promising future projects to continue to expand our value to the patients served by the pharmaceutical industry.”
Impel CEO Michael Hite added, “The scientific progress that has been made is being validated by investor and collaborator support to allow us to now aggressively commercialize our technology over multiple high value applications. We are actively pursuing additional collaborations where Impel’s Pressurized Olfactory Device can provide the greatest impact to improved patient outcomes.”
Read the Impel press release.
