The Yokneam-based company has developed an intranasal drug delivery system to precisely target areas of the nasal cavity to enable systemic, local or even direct delivery to the brain.
American drug delivery company Aptar Pharma announced the acquisition of the device technology assets of an Israeli company SipNose nasal delivery systems. No financial details about the deal were revealed, but sources familiar with the matter told Globes that the acquisition was for about $12.5 million.
Yokneam-based SipNose, founded in 2011 by CEO Iris Shichor, has developed an intranasal drug delivery system to precisely target areas of the nasal cavity to enable systemic, local or even direct delivery to the brain. This method is able to penetrate the blood-brain barrier through a loophole that was discovered 20 years ago.
Delivering drugs to the brain currently requires dousing the entire body with drugs in the hope that small amounts will reach the targeted part of the brain, or invasive solutions such as administering drugs into the spine through the skull. The possibility of replacing these techniques with nasal spray is very attractive.
SipNose has raised several million dollars from private investors such as InMode founder Moshe Mizrahi, venture capitalists Hadar Ron and Miftash Shamir. The company’s drug delivery system is undergoing clinical trials.
Published by Globes, Israel Business News – en.globes.co.il – on October 10, 2024.
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