Devices & Diagnostics, Pharma

3M invests in Impel NeuroPharma’s drug delivery device

Seattle-based Impel NeuroPharma has attracted investment from 3M’s venture arm. It’s developing an inhaled drug delivery product that sends medication straight to the brain and CNS.

Proof positive that 3M is keeping tabs on the development of inhalant drug delivery products: Seattle-based Impel NeuroPharma just closed out the first tranche of a $12 million Series B round from the Minnesota conglomerate’s venture arm.

The funding seals a strategic partnership between the startup and 3M Drug Delivery Systems, and will propel commercialization for Impel NeuroPharma’s “Precision Olfactory Delivery” technology to deliver drugs to the brain and central nervous system.

Impel has clinical stage programs in Alzheimer’s disease, migraine and pain management as well. The so-called POD technology deposites drugs deep into the upper nasal cavity, where it can reach the brain and CNS, Impel says. The handheld, inexpensive device could be self-administered by a patient, or facilitated by a caregiver, physician or family member.

[Image courtesy of Impel NeuroPharma]