Beyond the Award: How Neurelis is Reshaping Neurological Treatment

SAN DIEGO, CA – June 15, 2026 – An award, no matter how prestigious, is often just a snapshot in time. For Craig Chambliss, founder and CEO of Neurelis, Inc., being named an EY Entrepreneur Of The Year® 2026 Pacific Southwest Award Winner is certainly a significant milestone. The recognition, drawn from a pool of nearly 1,000 regional entrepreneurs, validates a journey marked by ingenuity and persistence. But the true story isn't the award itself; it's the market-disrupting, life-altering work that earned it.

Neurelis has carved out a critical niche in the complex world of neuroscience by focusing on a single guiding principle: addressing high unmet medical needs. Its flagship product, VALTOCO® (diazepam nasal spray), has fundamentally changed the emergency treatment paradigm for epilepsy patients. In his acceptance, Mr. Chambliss underscored this patient-centric mission. "I founded Neurelis to bring a much-needed treatment to enhance patient care and health outcomes for people with epilepsy," he stated. "It is my hope that receipt of this award will help raise awareness of our mission."

That mission, however, extends far beyond a single product or a single award. A forensic look at Neurelis reveals a company built not just on innovative science, but on a shrewd business strategy that positions it for long-term impact in one of medicine’s most challenging fields. This is more than a story of a successful drug; it is a case study in building a sustainable engine for neurological innovation.

A New Standard of Care for a Terrifying Emergency

To understand the impact of Neurelis, one must first grasp the hidden cost of seizure clusters—frequent, repetitive seizures that can escalate into a medical emergency. For decades, the standard at-home rescue treatment was a rectally administered diazepam gel. While effective, its invasive and often socially awkward administration method created a significant barrier for patients and caregivers, leading to treatment delays that could have dire consequences.

VALTOCO shattered this old paradigm. By reformulating diazepam into a simple, ready-to-use nasal spray, Neurelis delivered a solution that is not only fast-acting but can be administered quickly and discreetly by a non-medical caregiver. This innovation is powered by the company's proprietary INTRAVAIL® technology, which enables rapid and consistent absorption through the nasal mucosa. For a parent of a child with epilepsy or a spouse of a patient, the ability to intervene in seconds, without hesitation, is a profound shift in their quality of life.

The medical community has responded decisively. Recent market data shows that 91% of physicians expect to maintain or increase their prescription rates for acute repetitive seizure treatments, a testament to the confidence inspired by products like VALTOCO. The company further solidified its market leadership by securing an expanded FDA approval to treat children as young as two, an age group for which its main competitor, a midazolam-based nasal spray, is not approved. This move not only broadened its patient base but also addressed a critical gap in pediatric care.

The Architecture of Sustainable Innovation

While VALTOCO is the public face of Neurelis, the company's underlying financial and strategic architecture is what ensures its staying power. This is not a story of a one-hit wonder but of deliberate, methodical construction. Since its founding in 2007, Neurelis has navigated the treacherous biotech funding landscape with remarkable success, securing over $380 million in capital across 11 rounds from discerning investors.

The company's most pivotal strategic move was its 2018 acquisition of Aegis Therapeutics. This wasn't just a purchase; it was the internalization of a core competency. By acquiring Aegis, Neurelis gained full ownership of the INTRAVAIL® drug delivery platform, the technological backbone of VALTOCO and its future pipeline. This vertical integration provides a powerful competitive advantage, allowing the company to rapidly develop and refine new non-invasive therapies.

The financial results speak for themselves. With VALTOCO's estimated net sales for 2025 projected to approach $300 million—more than double the previous year—Neurelis is a commercial-stage powerhouse. It boasts an EBITDA margin exceeding 30% and, as of the end of last year, held over $175 million in cash with no bank debt. This financial fortitude is what allows Chambliss to credit his wider team and backers. "The progress Neurelis has made... has only been possible through the dedication of our exceptional team and the support of our shareholders," he noted.

Tackling the Next Wave of CNS Disorders

With VALTOCO established and profitable, Neurelis is leveraging its R&D and financial engine to tackle other formidable neurological challenges. The company's pipeline demonstrates a clear strategy: identify areas where existing treatments are inadequate or non-existent and apply its drug delivery expertise to create a new solution.

One of its most promising candidates is NRL-1004, an intranasal formulation of olanzapine for the acute treatment of agitation in patients with schizophrenia and bipolar disorder. Currently, there are no FDA-approved rescue medications for these episodes that can be administered by a patient or caregiver outside of a clinical setting. NRL-1004, now in Phase 1 trials, aims to be the first, offering a non-invasive way to de-escalate a crisis before it requires emergency intervention.

Further down the pipeline is NRL-1049, a new chemical entity being developed for Cerebral Cavernous Malformations (CCMs). This rare genetic disorder causes vascular lesions in the brain that can lead to seizures and hemorrhagic strokes. There are currently no approved pharmacological treatments. NRL-1049, a selective ROCK inhibitor, has shown promise in preclinical models by reducing lesion volume and hemorrhage. If successful, it would represent a breakthrough for a patient population with no other options.

Forged on 'Biotech Beach'

Neurelis's success is also a product of its environment. Headquartered in San Diego, the company is a quintessential example of the innovation that flourishes on 'Biotech Beach,' one of the top three life sciences clusters in the United States. This ecosystem provides an unparalleled confluence of resources: world-class research from institutions like UCSD and the Salk Institute, a deep talent pool of scientists and entrepreneurs, and a robust flow of venture capital that fuels discovery.

The region's collaborative spirit and supportive infrastructure create a fertile ground where a founder's vision can be translated into a global commercial enterprise. Neurelis has leveraged this ecosystem to its fullest, transforming a mission to help epilepsy patients into a financially sound, scientifically ambitious company poised to redefine treatment across the spectrum of neurological disorders. The EY award is a recognition of the journey thus far, but for Neurelis, the perspective is clearly focused on the long road of innovation that still lies ahead.