Impel NeuroPharma closes $36m series C round for intranasal CNS treatments

Impel NeuroPharma Inc. said today that it closed a $36 million series C financing round to fund its pipeline of precision olfactory delivery (POD) intranasal devices. Life science firms venBIO, 5AM Ventures and Vivo Capital made investments in the round. Seattle-based Impel will get $21 million upfront and $15 million after it reaches development and business milestones.

Impel’s POD nasal devices are designed for improved bio-distribution, bio-availability and decreased dose-to-dose variability of small molecules and biologic drugs. The device delivers drugs to the upper nasal cavity, taking advantage of the vascular rich olfactory region and targeting the brain using the olfactory and trigeminal nerves. The company is developing combination products for migraine, Alzheimer’s and Parkinson’s disease. Impel said that it expects new indications will enter the clinic next year.

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