Seattle-based biotech firm Impel NeuroPharma is about to go public. The corporate, which develops medicine for central nervous system issues corresponding to migraines and Parkinson’s, submitted paperwork on Friday for a $75 million IPO.
Based in 2008, Impel is a late-stage pre-revenue pharma firm identified for its Precision Olfactory Supply (POD) platform, which sends medicine into the nasal cavity with the purpose of penetrating the blood-brain barrier and focusing on the organ extra instantly than is feasible with capsules or injected medicine. Its lead candidate, a drug that treats migraines referred to as TRUDHESA, goes by the FDA’s New Drug Software course of.
The corporate has raised $140 million so far 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 college on the College of Washington. The corporate is led by Adrian Adams, a biotech vet who took over for Jon Congleton final 12 months.
Impel plans to commerce below the ticker IMPL on the Nasdaq. It will be the primary Washington state firm to go public in 2021 by way of a standard IPO.