Impel Neuropharma raises $80M in Washington state’s first IPO of 2021
April 23, 2021 at 7:36 am
Impel CEO Adrian Adams. (Impel Photo)
The news: Seattle-based biotech company Impel NeuroPharma raised $80 million in its initial public offering and will begin trading on the NASDAQ Friday under the ticker IMPL. It is the first Washington state company to go public in 2021 via a traditional IPO.
Company background: Founded in 2008, Impel is a late-stage pre-revenue pharma company that develops drugs for central nervous system disorders such as migraines and Parkinson’s. It is known for its Precision Olfactory Delivery (POD) platform, which sends drugs into the nasal cavity with the goal of penetrating the blood-brain barrier and targeting the organ more directly than is possible with pills or injected drugs. Its lead candidate, a drug that treats migraines called TRUDHESA, is going through the FDA’s New Drug Application process.