07 December 2018 | News
Dr. Robert Mittendorff, Partner at Norwest, and Ali Satvat, Member at KKR, will join the Impel Board of Directors
Seattle-based biotechnology company, Impel NeuroPharma has announced that it has completed a Series D financing totaling $67,500,000.
The investment is co-led by KKR and Norwest Venture Partners (“Norwest”), with participation from existing investors, Vivo Capital, 5AM Ventures and venBio Partners.
Dr. Robert Mittendorff, Partner at Norwest, and Ali Satvat, Member at KKR, will join the Impel Board of Directors.
Jon Congleton, Chief Executive Officer of Impel said, “We are delighted to have the support of this exceptional group of both new and existing investors. Dr. Mittendorff and Mr. Satvat will be tremendous assets as new members of Impel’s Board of Directors and we believe that this investment is a testament to the strength of our POD® technology, our clinical programs and our management team.”
“With three product candidates progressing through various stages of clinical development in 2018, it has been an exciting year for Impel, and this financing confirms the value that we are generating with our clinical programs”, he added.
Dr. Mittendorff added, “We are excited to have co-led this financing round with KKR and look forward to helping Impel reach its goals as the Company progresses the development of these novel investigative therapies. Norwest shares in Impel’s belief that the Company’s pipeline has the potential to bring important new treatments to the market for the CNS community.”
Satvat said, “We are thrilled to contribute to the development of innovative solutions that may enhance the lives of patients with CNS disorders. Impel’s proprietary, novel platform has the potential to transform intranasal drug delivery, significantly improving the range of treatment options for people living with acute migraine, acute agitation and Parkinson’s disease.”
This financing will enable Impel to accelerate its existing clinical development portfolio in CNS disorders. Impel is currently investigating three programs leveraging its novel Precision Olfactory Delivery, or POD®, device technology: INP104 in a Phase 3 trial for the treatment of acute migraine headache, INP103 in a Phase 2 trial for the reversal of OFF episodes in Parkinson’s disease and INP105 in a Phase 1 trial for the treatment of acute agitation in bipolar I and schizophrenia disorders.