ARS Pharmaceuticals said that it has raised $55 million in a Series D financing round to support approval and potential launch of its Neffy (ARS-1) intranasal epinephrine for the treatment of anaphylaxis as well as studies of the nasal spray for other indications. ARS submitted an MAA for Neffy to the EMA in November 2020.
The FDA granted Fast Track designation to ARS-1 in February 2019. In September 2020, Recordati acquired marketing rights to Neffy in the European Union and in numerous other countries including in the UK, Russia, Turkey, the Middle East, Iceland, Norway, Switzerland, and francophone Africa.
ARS CEO and President Richard Lowenthal commented, “ARS is very pleased to have gained the support of a top tier group of investors including SR One, Deerfield, RA Capital, and a leading long-term public equity investment fund focused on the life sciences; this additional funding will allow us to focus on pre-launch activities for Neffy and additional research and development for a second indication for nasal epinephrine that we believe can add significant value to the ARS portfolio. This investment advances further work to prepare for launch of a reliable, easy-to-use, needle-free option for the treatment of a severe allergic reaction.”
Read the ARS Pharmaceuticals press release.
