ARS Pharmaceuticals Raises $55 Million in Series D Funding for Launch Preparations of Neffy™ (epinephrine nasal spray)
Summary
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," said Richard Lowenthal, founder, chief executive officer and president of ARS Pharma. As part of this funding, ARS appointed Rajeev Dadoo, Ph.D., managing partner of SR One, and Peter Kolchinsky, Ph.D., managing partner and founder of RA Capital to the Company board of directors, building on the recent appointment of Brent Saunders, CEO, president and chairman of Vesper Healthcare Acquisition Corp. Dadoo joined SR One in 2004 and has experience in investing in the therapeutics space and in healthcare-technology companies. Kolchinsky co-founded RA Capital in 2004 and is active in both public and private investments in companies developing drugs, medical devices, diagnostics, and research tools. The Company is developing Neffy™ (ARS-1), an intranasal epinephrine spray with a unique absorption technology that could be easy-to-use, convenient, and more reliable for patients and loved ones at-risk of severe allergic reactions to food, medications and insect bites that could lead to life-threatening anaphylaxis. Based on epidemiology and claims data, about 20 million individuals experience severe allergic reactions involving cardiac and respiratory symptoms that could lead to anaphylaxis.