Scotland-based start-up 1nhaler has raised £2m ($2.5m) to develop a single-use dry powder inhaler.
The inhaler is cardboard-based and contains a platform technology, including a breathable membrane that can be tailored to deliver individual drugs to patients and has the same dimensions as a credit card.
The investors that took part in the funding round included Archangel Investors, British Business Investments, and Cipla’s non-executive chairman Dr Yusuf Hamied, in addition to 1nhaler’s seed investors.
The respiratory device market is forecasted to grow from being worth $8.4bn in 2023 to approximately $12bn in 2030, as per the GlobalData market model. The market is forecasted to grow at a compound annual growth rate (CAGR) of 5.16%.
Inhalable medicines are used to treat a variety of conditions including asthma. As per the UK National Institute for Health and Care Excellence (NICE), over 300 million people worldwide suffer from Asthma. The disease also has a prevalence among children, compared to adults.
“Our dry powder inhaler has the potential to become the simplest, most convenient single-dose, disposable inhaler on the market, revolutionising the delivery of critical drugs, without the cost and environmental impact of existing devices,” said 1nhaler’s CEO and founder Lisa McMyn.
Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Company Profile – free
Your download email will arrive shortly
We are confident about the
quality of our Company Profiles. However, we want you to make the most
decision for your business, so we offer a free sample that you can download by
submitting the below form
Single-use inhalers currently in the market include Iconovo’s single-dose inhaler which can be used to dispense dry powder medications. Hovione also offers multiple disposable inhalers, including a TwinCaps inhaler that has been approved to deliver Daiichi-Sakyo’s antiviral drug Inavir.
Multiple companies are currently developing inhalation devices. The inhaler devices are often designed for specific drugs. Recently, Syqe Medical’s inhaler received approval from the Therapeutic Goods Administration in Australia. The device administers low, metered, and consistent doses of medicinal cannabis through inhalation, aerosolised from dried milled flowers.
In August, inhaler manufacturer Kindeva Drug Delivery launched a healthcare company Viatris for the production and distribution of the first genetic version of AstraZeneca’s Symbicort. The combination therapy has been approved for treating asthma and chronic obstructive pulmonary disease.