Intranasal Therapeutics (ITI) has landed $39.1 million in its first round of venture capital. SV Life Sciences led the round, and Burrill & Company, Tullis-Dickerson, Fidelity Biosciences, ApjohnVentures, Fort Washington Capita, Commonwealth Seed Capital, and Kentucky Co-Investment Partners contributed as well. ITI is currently developing nasally-delivered drugs. The funding will be used to launch a hydromorphone nasal spray for acute pain that is currently in Phase II/III testing. The company is also developing an intranasal version of lorazepam which is used to treat seizures and anxiety.
- see the company's press release