1nhaler announced today that it raised $2.5 million (£2 million) to develop a sustainable single-use dry powder inhaler.
The Scotland-based drug delivery device developer cited limited inhalable medicine development due to a number of reasons. Those include accessibility, cost, performance and environmental impact. Its own development could enable the delivery of several dry powder drugs in a sustainable, low-cost delivery device.
Rather than use expensive, bulky plastic, 1nhaler uses cardboard to create an inhaler with the same dimensions as a credit card. The discreet platform features a breathable membrane capable of tailoring to deliver individual drugs to patients.
According to a news release, 1nhaler plans to use the investment to work with companies around the world to bring new and existing drugs to patients in a more efficient and affordable way. The company hopes to open up the next generation of inhaled products.
Archangels led the funding round, while Dr. Yusuf Hamied, British Business Investments and seed investors all participated. Dr. Sarah Hardy, director and head of new investments at Archangels, said she sees a “clear route to market” for the technology. She cited the opportunity to “positively disrupt the status quo of single-dose medicine delivery.”
“Our DPI has the potential to become the simplest, most convenient single-dose, disposable inhaler on the market, revolutionizing the delivery of critical drugs, without the cost and environmental impact of existing devices,” said Lisa McMyn, 1nhaler founder and CEO. “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.”