Ikano Therapeutics
Developing digital health tools to help researchers track patient data, analyze it, and export it for publication.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
$18.0m | Series B | ||
| Total Funding | 000k | ||
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Ikano Therapeutics, Inc., originally founded as Intranasal Therapeutics Inc. in 1998 by Edwin Cohen, operated as a specialty pharmaceutical company focused on developing and commercializing nasally delivered drug products. In March 2009, the company rebranded to Ikano Therapeutics, a name derived from the Greek word for "enable," to reflect a broader corporate strategy beyond intranasal delivery to a more diversified emphasis on high-impact specialty therapeutic products.
The company's primary focus was on addressing unmet medical needs in the treatment of pain and central nervous system disorders. A key asset in its pipeline was ITI-111, a nasally administered formulation of midazolam for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity, also known as cluster seizures, in epilepsy patients aged 12 and older. This product, which later became known as Nayzilam®, was developed as a more practical and acceptable outpatient alternative to existing treatments. In November 2009, Ikano received Orphan Drug designation for this midazolam formulation, a status that provides for seven years of marketing exclusivity.
Ikano Therapeutics successfully raised a total of $57.1 million over three funding rounds, including a Series A of $39.1 million in 2006 and a Series B round in 2009. The investor syndicate included prominent venture capital firms such as SV Health Investors (formerly SV Life Sciences), Tullis Health Investors, Burrill & Company, and F-Prime Capital (formerly Fidelity Biosciences). Following a strategic shift, Michael Ross of SV Life Sciences was appointed Chairman of the Board in 2009. Ultimately, Ikano Therapeutics was acquired by UCB, a global biopharmaceutical company. Reports indicate that Ikano went out of business as an independent entity around November 2010.
Keywords: Ikano Therapeutics, Intranasal Therapeutics, specialty pharmaceuticals, nasal drug delivery, central nervous system disorders, pain management, epilepsy treatment, midazolam nasal spray, Nayzilam, ITI-111, seizure clusters, acute repetitive seizures, Orphan Drug, UCB acquisition, venture capital, SV Health Investors, Tullis Health Investors, F-Prime Capital, Edwin Cohen, Peter Young