Funding Round attributes
Qnovia Inc., a clinical-stage pharmaceutical and medical technology company, has successfully raised $16 million in a Series B financing round. The funding is set to propel the advancement of the company’s lead asset, the RespiRx® nicotine inhaler, which is being developed as a prescription therapy for smoking cessation.
This financing round marks a significant milestone for Qnovia Inc., underscoring the growing interest in innovative smoking cessation therapies. The RespiRx® device is designed to offer an alternative to traditional methods, targeting individuals seeking a prescription-based solution to quit smoking. The inhaler’s development is part of the company’s broader mission to create impactful health solutions through advanced inhalation technology.
The $16 million raised in the Series B round will be used primarily to support the clinical development and regulatory submission of RespiRx®. The funding will also assist in scaling the company’s operational capabilities to meet anticipated demand, as well as exploring other potential applications of the inhalation platform technology. The goal is to bring the product to market as a safe and effective prescription therapy for smoking cessation, helping to address the global public health burden of tobacco use.
The financing round was led by a prominent investor group, whose support reflects confidence in Qnovia’s innovative approach and the potential impact of its technology. Other investors participating in the round include existing stakeholders who have reaffirmed their commitment to the company’s vision and strategy. Specific names of the investors were not disclosed in the press release.
This latest funding round builds on the momentum generated by earlier investments in Qnovia’s platform. The company’s ability to secure substantial financial backing reflects the alignment of its mission with broader trends in healthcare innovation and the fight against preventable diseases.
