Scottish drug delivery device pioneer 1nhaler has raised £2 million to develop its single-use dry powder inhaler, described by business angel syndicate Archangels as “unique”.
Archangels, which led the funding round, said: “Other inhalers are typically made from bulky plastic and are expensive to manufacture and distribute. 1nhaler’s revolutionary sustainable DPI is cardboard-based with the same dimensions as a credit card."
It noted the “discreet platform technology includes a breathable membrane which can be tailored to deliver individual drugs to patients”.
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Archangels added: “Inhalable medicines are already widely used to treat conditions such as asthma, epilepsy, allergies and Parkinson’s but, to date, delivery options have been limited due to user accessibility, cost, performance and impact on the environment. 1nhaler has developed a way of enabling many different dry powder drugs to be readily delivered in a sustainable, low-cost delivery device.”
1nhaler, based in Edinburgh, was founded by Don Smith and Lisa McMyn in 2017.
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Archangels said: “They have assembled a team of industry experts, with decades of experience taking inhaled products to market, including chief scientific officer Helen Muirhead, who had responsibility for GSK's blockbuster respiratory portfolio, including the Diskus and Ellipta inhalers.”
The funding round was supported by Yusuf Hamied, non-executive chairman of Indian pharmaceutical giant Cipla, as well as by British Business Bank subsidiary British Business Investments and seed investors.
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Archangels said the investment would allow 1nhaler to “work with innovative companies around the world, allowing them to bring new and existing drugs to patients in a more efficient and affordable way, opening up the next generation of inhaled products”.
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Ms McMyn, chief executive officer at 1nhaler, said: “Our DPI has the potential to become the simplest, most convenient single-dose, disposable inhaler on the market, revolutionising the delivery of critical drugs, without the cost and environmental impact of existing devices.
“Securing funding from Archangels is invaluable for the next steps in the 1nhaler’s development. Their life sciences expertise and patient capital approach are exactly what we’re looking for in a funding partner.”
Sarah Hardy, director and head of new investments at Archangels, said: “Don, Lisa and the team at 1nhaler have developed a truly innovative technology platform with a clear route to market and opportunity to positively disrupt the status quo of single-dose medicine delivery.
“We’re proud to add 1nhaler to our portfolio of Scotland’s leading life sciences and technology businesses and look forward to working with them to increase the availability of life-saving drugs affordably and sustainably.”
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