Bryn Pharma said today that it raised nearly $18 million in financing to fund U.S. approval and commercialization for its Bryn-NDS1C bidose epinephrine nasal spray device for treating anaphylaxis.
The $17.5 million funding round was the company’s fourth completed financing series and it included $15 million from existing and new investors, while the remaining $2.5 million came from a corporate collaborator, according to a news release.
The pocket-sized Bryn-NDS1C device is designed to contain two doses of epinephrine in one portable device, providing an easy-to-use option that eliminates the need to carry two emergency auto-injectors.
Raleigh, N.C.-based Bryn said it has conducted multiple preclinical and clinical trials for Bryn-NDS1C and the device won fast track designation from the FDA earlier this year.
Earlier this month, the company said it completed dosing in its pivotal human trial, which is aiming to support U.S. approval. This week, Bryn Pharma entered into an agreement with Aptar Pharma to use Aptar’s Bidose (BDS) nasal device to deliver Bryn’s epinephrine nasal spray.
“We formed the company with the singular goal of bringing an easy-to-use, needle-free, and convenient-to-carry solution to patients and their loved ones at risk of anaphylaxis,” Bryn Pharma CEO David Dworaczyk said in prepared remarks. “This financing follows our rapid advancement of the development and clinical testing of BRYN-NDS1C. The additional capital will be used to prepare for the rapid commercialization of the product once approved by the FDA.”