Pulmatrix Takes $14 Mil. From Insiders, Sharpens Focus On Dry-Powder Inhaler Drug
This article was originally published in The Pink Sheet Daily
With the Series B extension, the company will conduct Phase Ib and IIa studies in COPD and cystic fibrosis, while aiming to partner one indication.
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Originally intent on developing a contagion-prevention product for biodefense, Pulmatrix Inc. now has much larger ambitions. The company believes its new technologies for formulating drugs as dry powders and delivering them via inhalers will make its lead respiratory drug candidate more convenient and potent. Pulmatrix also sees the methods as a discovery engine likely to give rise to partnerships and branded generics.
Biotech's technology uses two mechanisms of action to prevent infection and keep pathogens from entering the lungs.