Intranasal raises $39.1 million

Intranasal Therapeutics (Montvale, N.J.) raised $39.1 million in a series A round led by SV Life Sciences. Burrill & Co.; Tullis-Dickerson; Fidelity Biosciences; Apjohn Ventures; Fort Washington Capital; Commonwealth Seed Capital; and Kentucky Co-Investment Partners LP also participated in the round. Intranasal is reformulating drugs using its preservative-free intranasal delivery technology. The company's hydromorphone spray has completed Phase II trials for acute pain, with a dose-ranging Phase III trial in the indication expected to start next quarter. Intranasal said the product is being initially considered for military use. ...