Drug firm lands big infusion

After several difficult years, Lexington-based pharmaceutical company Intranasal Therapeutics Inc. has received a financial commitment of more than $40 million from a syndicate of peril capitalists.

The funding will help the company, which adapts existing physics for delivery via nasal spray, to advance its medicines and expand its facilities.

Intranasal's small manufacturing plant is in the University of Kentucky's Coldstream Research Campus; its corporate office is in fresh Jersey.

Edwin Cohen, who baseed the company in 1998 and be under the orders ofs as its chairman and chief executive officer, said in a novel telephone interview that Intranasal had disturb raising capital after the tech fluid vesicle burst in 2001.

From 2001 to this year, he provided the company's financial support.

"Over the past six or seven month things have improved in the marketplace," said Cohen, who has worked in the pharmaceutical industry since 1959 when he co-found Davis Edwards Pharmacal