November 2, 2009 – Pulmatrix, a clinical stage biotechnology company discovering and developing a new class of therapies for the treatment and prevention of infectious and progressive respiratory diseases, announced that it has secured $30.2 million in Series B financing. ARCH Venture Partners and Novartis Bioventures Fund co-led the round with participation from existing investors Polaris Venture Partners and 5AM Ventures.Proceeds from the financing will be used to enhance Pulmatrix’s R&D capabilities in advancing a new class of host-targeted therapies that treat and prevent a full range of respiratory diseases by harnessing the airway and lungs own natural biophysical properties and host defense mechanisms. In particular, the financing will accelerate the development of Pulmatrix’s product pipeline, including multiple clinical trials in a number of respiratory diseases that will initiate in 2010 and 2011. Currently, Pulmatrix has a drug compound, PUR003, which is being evaluated in Phase 1B/2A trials in influenza, with results from this initial clinical study expected by the end of the year. The new and ongoing clinical trials build upon previous preclinical studies that have demonstrated the efficacy of the Pulmatrix approach in the treatment, prevention, and transmission control of both viral and bacterial diseases in multiple animal species... [PDF] Pulmatrix's Press Release -
