Biotech firm Pulmocide secures £24.5m in Series B investment
London-based company ready to progress two of its compound through early clinical development
Pulmocide, a London-based biotech business, has completed a £24.5m Series B funding round SV Life Sciences, Johnson & Johnson’s venture capital arm, alongside Touchstone Innovations and F-prime – the venture capital arm of Fidelity.
Founded in 2013 by former GlaxoSmithKline scientists Garth Rapeport and Pete Strong, Pulmocide researches and develops inhaled medicines for the treatment of common, acute and chronic respiratory tract infections.
Its focus is on hard-to-treat infections that can often lead to life-threatening complications including Respiratory Syncytial Virus (RSV) infection and Aspergillosis; two “significant respiratory infections with substantial unmet treatment need”.
The finance, which follows a $17m Series A in November 2013, will be used to enable Pulmocide to put two of its novel compounds through early clinical development.
Rapeport, CEO of Pulmocide, commented: “Respiratory infections are a significant cause of global morbidity and mortality with a high unmet medical need.
“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 antiinfective 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.”