Impel NeuroPharma Closes First Tranche of $12M Series B Financing
Summary
Impel NeuroPharma Inc., a Seattle, WA-based biopharmaceutical company specializing in developing enhanced CNS products based on its proprietary Precision Olfactory Delivery (POD) technology, closed the first tranche of its $12m Series B financing round.The round, which was led by 3M New Ventures (3M NV), was part of the recently announced strategic alliance between 3M Drug Delivery Systems and Impel.Led by CEO Michael Hite, Impel develops POD technology that deposits drugs deep into the upper nasal cavity where it can achieve delivery into the brain and CNS.The company is now committed to improving the delivery of CNS therapeutics and is growing its pipeline of internal products through its INP-101, INP-102 and INP-104 programs.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.