by Malcolm Spicer (m.spicer@elsevier.com)
“The Tan Sheet” Mar. 5, 2012, Vol. 20, No. 10
Venture capital firm Advent Life Sciences invested in U.K. startup CN Creative Ltd. to try to fundamentally change the OTC nicotine replacement therapy market with an electronic inhaler indicated for smoking cessation.
CN Creative’s promotion of harm reduction – a strategy for decreasing the number of people with diseases or other health problems linked to smoking tobacco, as opposed to strictly targeting cessation of smoking or all use of nicotine – is central to Advent’s interest, the investment firm says.
Advent led CN Creative’s first financing round, which raised $3.1 million (£2 million), the firms said Jan. 25. CN Creative will request regulatory approval for its Nicadex electronic nicotine inhaler as an NRT and already markets EVOlution e-cigarettes in Europe and the U.S. through its Intellicig business.
The timing may be right, though some experts predict that in the U.S., FDA will continue to oppose e-cigarettes and harm reduction. But legal changes have opened FDA more to considering harm reduction indications.
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