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Seattle biotech firm Impel NeuroPharma files for $75M IPO
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Seattle biotech firm Impel NeuroPharma files for $75M IPO

Seattle-based biotech firm is ready to go public. The corporate, which develops medication for central nervous system issues akin to migraines and Parkinson’s, on Friday for a $75 million IPO.

Based in 2008, Impel is a late-stage pre-revenue pharma firm recognized for its Precision Olfactory Supply (POD) platform, which sends medication into the nasal cavity with the purpose of penetrating the blood-brain barrier and focusing on the organ extra immediately than is feasible with tablets or injected medication. Its lead candidate, a drug that treats migraines known as TRUDHESA, goes by the FDA’s New Drug Utility course of.

The corporate has raised $140 million to this point from backers together with KKR, Norwest Enterprise Companions, 5AM Ventures, Vivo Capital, and VenBio Companions. Impel was co-founded by John Hoekman, who first developed the POD system whereas in graduate faculty on the College of Washington. The corporate is led by , a biotech vet who took over for final yr.

Impel plans to commerce below the ticker IMPL on the Nasdaq. It might be the primary Washington state firm to go public in 2021 through a conventional IPO.

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