Qnovia announced that it has raised $16 million in Series B financing for development of its QN-01 nicotine inhaler for smoking cessation in the UK. In the US, the FDA recently approved Qnovia’s IND for a new Phase 1 study of QN-01, which is delivered via a device based on the company’s RespiRx vibrating mesh nebulizer technology.
According to the announcement, some of the new funds will be used to explore other indications. In October 2023, Qnovia announced that it had partnered with the University of Virginia for the development of antimicrobial peptides for delivery via the RespiRx platform.
Qnovia CEO Brian Quigley commented, “This Series B financing marks a meaningful milestone for Qnovia as it provides validation for our RespiRx proprietary platform, our progress in the regulatory process and the potential for our inhaled drug delivery platform to improve patient outcomes. We are grateful for the partnership with our investors who are committed to our vision of advancing the development of inhaled therapeutics for areas of high unmet need, starting with our focus on bringing innovation to medicines to support smoking cessation.”
Quigley continued, “Our recent infusion of capital will advance QN-01 beyond our Phase 1 clinical trial in the US and support an MAA submission to the MHRA in 2026. We believe that the data we have generated for QN-01, which includes our positive first in-human clinical data and our non-clinical findings significantly derisks our clinical development plan and accelerates commercial validation to support our MAA submission for an expedited path to revenue generation in the UK. Overall, this financing brings us one step closer to our vision of transforming the treatment paradigm for smoking cessation for a population who has not had access to any new treatment options in several decades.”
Read the Qnovia press release.
