– Pulmocide Ltd., (“the Company”) a late-stage biopharmaceutical company developing novel inhaled therapies for patients suffering from serious acute and chronic respiratory diseases, today announced it has raised $92 million in an oversubscribed Series C financing round. The funding round was led by Jeito Capital with participation from other new investors Adjuvant Capital and Asahi Kasei Pharma. Existing investors SV Health Investors, SR One, IP Group plc, F-Prime Capital, Johnson & Johnson Innovation – JJDC, Inc., and Longwood Fund also participated. With the closing of the transaction Sabine Dandiguian from Jeito and Kabeer Aziz from Adjuvant have joined the Pulmocide Board of Directors.
Proceeds from the financing will primarily be used to advance the Company’s lead asset PC945 through a global Phase III registration program in patients with invasive pulmonary aspergillosis (IPA) who have failed prior therapy. PC945 is a potent, novel triazole antifungal that has been specifically designed for use as an inhaled therapy. Its pharmaceutical properties allow it to accumulate when nebulized in lung airway epithelial cells and macrophages, effectively delivering large, sustained doses to the site of infection in the lung while minimizing systemic drug levels.
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