Impel Neuropharma Announces Company Will Now Be Known as Impel Pharmaceuticals to Reflect Corporate Transformation

Rhea-AI Summary

Impel Pharmaceuticals, formerly Impel NeuroPharma, celebrates its one-year anniversary as a publicly traded company at the Nasdaq closing bell ceremony. The name change reflects a strategic shift, expanding its focus beyond central nervous system disorders to other areas of high unmet medical needs. The company emphasizes the potential of its Precision Olfactory Delivery (POD®) technology, which aims to enhance drug absorption via the upper nasal space. Trudhesa®, its approved migraine treatment, marks a significant milestone in this evolution. Stock trading will continue under the ticker IMPL.

Positive

• Successful launch of Trudhesa® reinforces the effectiveness of POD® technology in the migraine market.
• Company name change signifies a broadened vision to address various diseases beyond CNS disorders.

Negative

• None.

Impel Celebrates Its One-Year Anniversary as a Public Company Today at the Nasdaq Stock Market Closing Bell Ceremony Starting at 3:45 p.m. EDT

SEATTLE, April 25, 2022 (GLOBE NEWSWIRE) -- Impel NeuroPharma (NASDAQ: IMPL), a commercial-stage pharmaceutical company developing transformative therapies for people suffering from diseases with high unmet medical needs, today announced that it is changing its name to Impel Pharmaceuticals. This new name reflects the ongoing corporate and strategic transformation of the Company and the use of its proprietary Precision Olfactory Delivery (POD^®) technology to treat patients suffering from diseases with high unmet needs across various disease areas in addition to the central nervous system. The Company will celebrate this milestone, and its one-year anniversary as a publicly traded company, as Chairman of the Board and Chief Executive Officer, Adrian Adams rings the Nasdaq Stock Market closing bell today at 3:45 p.m. EDT.

“Today Impel transitions from Impel NeuroPharma to Impel Pharmaceuticals. The first-cycle approval and launch of Trudhesa^® using our proprietary POD^® technology reinforces the promise of the device to provide potential treatment options for multiple disease areas by delivering drugs into the vascular-rich upper nasal space,” said Adrian Adams, Chairman of the Board and Chief Executive Officer, Impel Pharmaceuticals. “Now, as we celebrate our one-year anniversary as a publicly traded company, changing our name to Impel Pharmaceuticals cements the Company’s expanded corporate mission to provide transformative therapies for people suffering from diseases beyond the central nervous system.”

Effective at market close on Monday, April 25, 2022, trading for Impel will reflect the new name of Impel Pharmaceuticals under the same symbol “IMPL” (NASDAQ: IMPL). The corporate name change to Impel Pharmaceuticals does not affect the rights of the Company’s stockholders and no action is required by stockholders with respect to the name change. Outstanding stock certificates are not affected by the name change and will not need to be exchanged.

The ringing of the closing bell will be broadcast across major business networks, including CNBC, Fox Business News and Bloomberg TV. The ceremony will begin at approximately 3:45 p.m. EDT and can be viewed at https://www.nasdaq.com/marketsite/bell-ringing-ceremony.

Before the event begins, the link will go live at 3:45 p.m. EDT with a view of Impel’s name displayed on the Nasdaq Tower in the heart of Times Square, with the tower also showcasing the closing bell event.

About Precision Olfactory Delivery (POD^®) Technology:
Impel’s proprietary POD^® technology is able to deliver a range of therapeutic molecules and formulations into the vascular-rich upper nasal space, believed to be a gateway for unlocking the previously unrealized full potential of these molecules. By delivering predictable doses of drug directly to the upper nasal space, Impel’s precision performance technology has the goal of enabling increased and consistent absorption of drug, overriding the high variability associated with other nasal delivery systems, yet without the need for an injection. While an ideal target for drug administration, to date no technology has been able to consistently deliver drugs to the upper nasal space. By utilizing this route of administration, Impel Pharmaceuticals has been able to demonstrate blood concentration levels for its investigational therapies that are comparable to intramuscular (IM) administration and can even reach intravenous (IV)-like systemic levels quickly, which could transform the treatment landscape for CNS and other disorders. Importantly, the POD technology offers propellant-enabled delivery of dry powder and liquid formulations that eliminates the need for coordination of breathing, allowing for self- or caregiver-administration in a manner that may improve patient outcome, comfort, and potentially, compliance.

About INP105:
INP105 is an upper nasal formulation of olanzapine administered using Impel’s novel POD^® technology and being developed for the potential treatment of agitation and aggression associated with autism spectrum disorder. The POD^® is a novel, simple-to-use device designed to deliver consistent and predictable doses of drug. INP105 delivers olanzapine to the richly vascularized upper nasal space to offer rapid, consistent, and optimized bioavailability that can be administered by the patient or a caregiver. Olanzapine is the most used treatment for acute agitation, but its use is limited to intramuscular injection and in a hospital setting. INP105 is intended to be a preferred choice for the safe and rapid treatment of acute agitation and, because it is designed to be non-invasive, it has the potential to expand the treatment setting beyond the emergency room, such as inpatient treatment or community care facilities and the patient’s home.

Trudhesa^® (dihydroergotamine mesylate) Indication and Important Safety Information
Indication
Trudhesa^® is used to treat an active migraine headache with or without aura in adults. Do not use Trudhesa to prevent migraine when you have no symptoms. It is not known if Trudhesa is safe and effective in children.

Important Safety Information

Serious or potentially life-threatening reductions in blood flow to the brain or extremities due to interactions between dihydroergotamine (the active ingredient in Trudhesa) and strong CYP3A4 inhibitors (such as protease inhibitors and macrolide antibiotics) have been reported rarely. As a result, these medications should not be taken together.

Do not use Trudhesa if you:

• Have any disease affecting your heart, arteries, or blood circulation.
• Are taking certain anti-HIV medications known as protease inhibitors (such as ritonavir or nelfinavir).
• Are taking a macrolide antibiotic such as clarithromycin or erythromycin.
• Are taking certain antifungals such as ketoconazole or itraconazole.
• Have taken certain medications such as triptans or ergot-type medications for the treatment or prevention of migraine within the last 24 hours.
• Have taken any medications that constrict your blood vessels or raise your blood pressure.
• Have severe liver or kidney disease.
• Are allergic to ergotamine or dihydroergotamine.

Before taking Trudhesa, tell your doctor if:

• You have high blood pressure, chest pain, shortness of breath, heart disease; or risk factors for heart disease (such as high blood pressure, high cholesterol, obesity, diabetes, smoking, strong family history of heart disease or you are postmenopausal, or male over 40); or problems with blood circulation in your arms, legs, fingers, or toes.
• You have or had any disease of the liver or kidney.
• You are taking any prescription or over-the-counter medications, including vitamins or herbal supplements.
• You are pregnant, planning to become pregnant or are nursing, or have ever stopped medication due to an allergy or bad reaction.
• This headache is different from your usual migraine attacks.
  

The use of Trudhesa should not exceed dosing guidelines and should not be used on a daily basis. Serious cardiac (heart) events, including some that have been fatal, have occurred following the use of dihydroergotamine mesylate, particularly with dihydroergotamine for injection, but are extremely rare.

You may experience some nasal congestion or irritation, altered sense of taste, sore throat, nausea, vomiting, dizziness, and fatigue after using Trudhesa.
Contact your doctor immediately if you experience:

• Numbness or tingling in your fingers and toes
• Severe tightness, pain, pressure, heaviness, or discomfort in your chest
• Muscle pain or cramps in your arms or legs
• Cold feeling or color changes in 1 or both legs or feet
• Sudden weakness
• Slurred speech
• Swelling or itching
  

The risk information provided here is not comprehensive. To learn more, talk about Trudhesa with your healthcare provider or pharmacist. The FDA-approved product labeling can be found at www.trudhesa.com or 1-800-555-DRUG. You can also call 1-833-TRUDHESA (1-833-878-3437) for additional information.
                
About Impel Pharmaceuticals
Impel Pharmaceuticals is a commercial-stage pharmaceutical company developing transformative therapies for people suffering from diseases with high unmet medical needs, with an initial focus on diseases of the central nervous system. Impel offers and is developing treatments that pair its proprietary POD^® technology with well-established therapeutics. In addition to Trudhesa^® nasal spray, which is approved in the United States for the acute treatment of migraine with or without aura in adults, Impel is also developing INP105 for the acute treatment of agitation and aggression in patients with autism.

Cautionary Note on Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, the potential clinical benefits of Trudhesa™, the market opportunities of Trudhesa within the migraine market, the speed of uptake and market growth of Trudhesa, and the timing of announcements of clinical results and clinical development activities of Impel’s product candidates. Forward-looking statements can be identified by words such as: “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect” or the negative or plural of these words or similar expressions. These statements are subject to numerous risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including but not limited to, Impel’s ability to maintain regulatory approval of Trudhesa, its ability to execute its commercialization strategy for Trudhesa, its ability to develop, manufacture and commercialize its other product candidates including plans for future development of its POD devices and plans to address additional indications for which Impel may pursue regulatory approval, whether results of preclinical studies or clinical trials will be indicative of the results of future trials, and the effects of COVID-19 on its clinical programs and business operations. Many of these risks are described in greater detail in Impel’s filings with the Securities and Exchange Commission. Any forward-looking statements in this press release speak only as of the date of this press release. Impel assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Impel, POD and the Impel logo are trademarks of Impel Pharmaceuticals Inc. To learn more about Impel Pharmaceuticals, please visit our website at www.ImpelPharma.com.

Contact:

Media Relations:
Melyssa Weible
Elixir Health Public Relations
Phone: (1) 201-723-5805
Email: mweible@elixirhealthpr.com

FAQ

What is the significance of Impel's name change to Impel Pharmaceuticals?

The name change reflects Impel's strategic expansion beyond central nervous system disorders to address multiple diseases with high unmet needs.

When did Impel celebrate its one-year anniversary as a public company?

Impel celebrated its one-year anniversary on April 25, 2022.

What technology does Impel Pharmaceuticals use for drug delivery?

Impel utilizes its proprietary Precision Olfactory Delivery (POD®) technology to enhance drug absorption through the upper nasal space.

Is trading under the ticker IMPL affected by the name change?

No, trading will continue under the same ticker symbol IMPL after the name change.

What is Trudhesa® and what condition does it treat?

Trudhesa® is a nasal spray approved for the acute treatment of migraine headaches in adults.