Inhaler firm raises £2m for ‘revolutionary’ device
1nhaler, a Scotland-based drug delivery device developer, has raised £2 million to develop its single-use dry powder inhaler.
The investment will allow Edinburgh-based 1nhaler to work with innovative companies around the world.
1nhaler’s revolutionary sustainable DPI is cardboard-based with the same dimensions as a credit card. The technology includes a breathable membrane which can be tailored to deliver individual drugs to patients.
The funding round was led by Archangels with support from Dr Yusuf Hamied, British Business Investments (BBI) and seed investors.
1inhaler was founded by Don Smith and Lisa McMyn in 2017.
Ms McMyn, founder and chief executive, said the device has the potential “to become the simplest, most convenient 1nhaler’s revolutionary sustainable DPI is cardboard-based with the same dimensions as a credit card.
She added: “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.”
Dr Sarah Hardy, director and head of new investments at Archangels, said: “Don, Lisa and the team at 1nhaler have developed a truly innovative technology platform with a clear route to market and opportunity to positively disrupt the status quo of single-dose medicine delivery”.