Akroswiss takes a step forward in the interest of patients closing a multi-million CHF Seed-Series Funding Round
Akroswiss is developing an innovative and patented Midazolam-based nasal spray to treat patients suffering from claustrophobia and epileptic seizures. In April, the Swiss start-up has raised several million Swiss Franc in a strategic seed funding round. The funding will fuel R&D to fulfill EMAs requirements to obtain EU marketing authorization for the product.
The majority of Akroswiss’ new funding came from financial investors, the family investment group Linsi, with radiologist and primary user Prof. Dr. med. Bernhard Schuknecht as well as existing investor Walter P. Hölzle also participating in the round. The board has therefore, been extended to seat the new investor groups. Marc Froehlich, former pharma strategy consultant, will operationally lead the company in the role of CEO. Akroswiss will use the new funds to further product development, conduct clinical studies, and initiate the medical device regulatory process to complement EMA’s requirements for data package submission.
Prof. Dr. med. Bernhard Schuknecht highlights: “In our radiology institute Midazolam based nasal spray has been applied for many years during diagnostic examinations. The spray enables adequate resolution of anxiety and sedation and therefore, facilitates patients’ examinations. Akroswiss bi-dose spray is easy to administer and more hygienic than any other solution. Relief of anxiety by endonasal administration is a safe, effective route to improve patients’ comfort and image quality without the necessity of an intravenous line.
An additional advantage of Akroswiss bi-dose nasal spray is the emergency endonasal administration of midazolam in patients with a sudden onset seizure. Thus, a safe route of endonasal administration on an emergency basis may effectively prevent potential harmful injuries and progression into a potential life-threatening seizure status.
To make this product available for more patients in need, a European marketing authorization is required. I believe Akroswiss and its team are best positioned to reach this within reasonable time.”
Akroswiss has successfully developed and tested a unique Bi-dose nasal drug delivery device for Midazolam with a first-class 360° functionality. The development of these Midazolam medicines comes in two independent indications: (1)Product for premedication ahead of diagnostic and therapeutic interventions against claustrophobia and restlessness, (2) product for the rescue treatment in epileptic seizure patients.
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