Uk-Based Drug Discovery Company Pulmocide Raise $30m in Series B Financing
Pulmocide Ltd, the UK-based drug discovery company developing novel compounds designed for inhaled delivery to treat respiratory syncytial virus (RSV) and pulmonary aspergillosis, has completed $30.4 million Series B financing round. The round was led by new investor SR One and included Longwood Fund plus existing investors SV Life Sciences, F-Prime Capital, Johnson & Johnson Innovation – JJDC, Inc. and Touchstone Innovations plc.
The proceeds will enable Pulmocide to progress its wholly-owned assets through early clinical development. Pulmocide is on track to deliver proof of concept data in RSV with its highly potent inhaled RSV antiviral agent (PC786) in human RSV challenge and in infants hospitalised with bronchiolitis due to RSV infection.
Pulmocide will also be progressing PC945, a potent azole antifungal for the treatment of pulmonary Aspergillosis, including fungal asthma, pulmonary Aspergilloma, Aspergillus infections in lung transplant recipients and patients with cystic fibrosis.
Dr Garth Rapeport, Chief Executive Officer of Pulmocide, commented: “Respiratory infections are a significant cause of global morbidity and mortality with a high unmet medical need. Pulmocide is developing bespoke inhaled medicines to provide effective and safe therapies for the treatment of RSV and pulmonary Aspergillosis.
“This Series B fundraising will provide us with the capital to advance our two novel compounds through early clinical development; another step closer to a treatment for patients for these debilitating infections. We are delighted by the interest we’ve received in this round and would like to thank our new and existing shareholders for their support and continued commitment to Pulmocide. We look forward to providing further pipeline updates as developments progress with our important programmes.”
Matthew Foy, Partner at SR One, added: “Pulmocide’s core asset is the management team’s proprietary expertise in the design of highly potent compounds with extended lung retention time and limited systemic exposure. This has enabled the development of two anti-infective drugs for serious diseases of the lung, where an inhaled therapy should deliver the optimal clinical outcome. SR One is excited to be joining such a strong syndicate of investors to support Pulmocide as it progresses both programmes towards clinical proof of concept.”
Pulmocide is a unique biopharmaceutical company with a mission to treat common acute and chronic respiratory tract infections associated with serious complications and devastating effects on patients’ quality of life.
Unlike currently available treatments for fungal and viral infections in the lung, our innovative approach to drug development provides targeted delivery to the lung so that infections can be treated with minimal unwanted systemic effects.
The Pulmocide team has an extensive track record in the discovery and development of novel inhaled medicines for respiratory indications. The team has particular expertise in the identification of compounds with optimal characteristics for lung delivery.
Source pulmocide’s press release