LOS ANGELES--(BUSINESS WIRE)--Qnovia, Inc. (Qnovia), a pharma company developing inhaled therapeutics with an initial focus on nicotine replacement therapy (NRT) and cardiopulmonary diseases, today announced it has raised $17 million in Series A funding. The financing was led by Blue Ledge Capital and included DG Ventures, Evolution VC Partners, Gaingels, TL Capital, and Vice Ventures.
“This Series A closing represents a major milestone for Qnovia as we seek to develop an initial proof of concept for our platform in NRT before expanding into additional therapeutic indications,” said Brian Quigley, CEO of Qnovia. “Once the FDA approves our Investigational New Drug (IND) application, we plan to initiate a Phase 1 study for NRT in 2023. As we pursue NRT authorization, we aim to identify significant expansion indications to pursue both alone and with partnerships.”
The Series A proceeds will be used by Qnovia to advance its NRT drug candidate through an IND submission with the FDA and begin human clinical trials in 2023.
“We are thrilled to be backing this new platform for inhaled therapeutics, and our participation in this round reflects not only our confidence in the technology but in Qnovia’s management’s ability to bring it to consumers and patients,” said Andy Roche, Founder and CIO at Blue Ledge Capital. “We are excited by the possibilities that exist beyond NRT for this innovative new drug platform and look forward to supporting them on this journey.”
About Qnovia, Inc.
Qnovia, Inc. is a pharma company focused on developing and commercializing proprietary inhalation device technologies to improve patient outcomes. The company’s drug delivery platform, the RespiRx™, is the first orientation-agnostic, portable vibrating mesh nebulizer that effectively operates in any position held by the patient. Qnovia sees significant opportunity to utilize its drug delivery technologies to improve the treatment of Asthma, COPD, Vaccine Delivery, Pain Management, and several generic as well as select investigational new drugs. The company was founded by Mario Danek in 2018 to build cutting-edge drug delivery platforms that improve patient outcomes through superior device technologies. The company’s website can be found at www.qnovia.com.