OptiNose bags $30M in VC financing as partner Otsuka barrels toward its second PDUFA date

OptiNose has raised $30 million to submit a New Drug Application for its drug/device combination product to treat nasal polyposis with associated nasal congestion. Its Bi-Directional Breath Powered drug delivery device is designed to deliver drugs deep into the nasal cavity. Last year, the FDA rejected a combination product for migraine sufferers developed in partnership with Japan's Otsuka Pharmaceutical due to concerns over the device's usability. Otsuka says the candidate works better than oral versions of the medication and expects to hear word on its second attempt at approval by Nov. 6. The $30 million in financing, which adds to the $50 million it has raised since 2000, means OptiNose will be a little less nervous about the FDA's call. Its investors include Avista Capital Partners, WFD Ventures and Entrepreneurs Fund. More from FierceMedicalDevices