20 December 2018 - - US-based pharmaceutical company ARS Pharmaceuticals, Inc has raised USD 20m in Series C financing led by Deerfield Management, the company said.

The company will use the funds to advance the clinical development of its novel intranasal epinephrine spray, ARS-1, which could provide an easy-to-use, convenient and more reliable treatment for severe allergic reactions to food, medications and insect bites that could lead to life-threatening anaphylaxis.

ARS-1 is an aqueous formulation of epinephrine nasal spray uniquely developed with Intravail, a novel nasal absorption enhancing technology.

According to the company, ARS-1 has demonstrated comparable pharmacokinetics to an intramuscular injection of epinephrine in pilot studies using a low and safe intranasal dose.

As a result, the company believes that the ARS-1 formulation may enable people to easily deliver epinephrine in emergency situations more rapidly, and with less hesitation, at the onset of an allergic reaction, as compared to currently available epinephrine auto-injectors.

The intranasal epinephrine spray is designed to be user-friendly, needle-free and easily portable to carry in a pocket or purse anytime, anywhere.

ARS Pharmaceuticals has submitted an Investigational New Drug application for its intranasal epinephrine sprayer with the US Food and Drug Administration based upon an agreed regulatory pathway for the studies necessary to support filing of a New Drug Application for the sprayer to treat patients with severe allergic reactions to food, medications and insect bites that could lead to life-threatening anaphylaxis.

Anaphylaxis is a severe, life-threatening allergic reaction with a sudden onset that can occur very quickly, as fast as within a couple of minutes, and could be fatal if not treated immediately.

According to published literature up to 5.3m people in the United States are at risk of having an anaphylaxis reaction that may warrant immediate emergency medical treatment, with more than 200,000 emergency room visits due to severe reactions from food allergies reported annually.

ARS Pharmaceuticals is dedicated to empowering at-risk patients and caregivers to better protect themselves from severe allergic reactions that could lead to anaphylaxis.

The company is developing ARS-1, an intranasal epinephrine spray with a unique absorption technology that could be easy-to-use, convenient and more reliable for patients and loved ones at-risk of severe allergic reactions to food, medications and insect bites that could lead to life-threatening anaphylaxis.

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.