Airway Therapeutics, a biotechnology company focused on developing new interventions for acute and chronic lung diseases has secured $11 million in Series B financing from new and existing investors.
The financing comes as Airway Therapeutics steadily meets milestones in the development of its lead product AT-100, a recombinant form of human surfactant protein D (rhSP-D). The first-in-class protein therapy is being developed initially to prevent bronchopulmonary dysplasia (BPD), an arrest in lung development that threatens 160,000 extremely preterm babies each year in the US and Europe.
Airway Therapeutics has secured core manufacturing capability with a license to use proprietary cell line technology. The company has expanded its team to include regulatory affairs and quality assurance, and is exploring additional indications for AT-100.
"Our hardworking team is successfully advancing the development of AT-100 and methodically moving toward entry into clinical trials," said Airway Therapeutics CEO, Marc Salzberg, MD. "It is gratifying to see the endorsement of our progress and product by our investor community."
ABOUT AIRWAY THERAPEUTICS
Airway Therapeutics is a biotech company focused on developing new interventions for acute and chronic lung diseases in the most vulnerable of patients. Founded in 2011 as a spin-out of Cincinnati Children's Hospital Medical Center, Airway Therapeutics has extensive expertise in protein development for applications in the lungs and pediatrics. Airway Therapeutics is currently developing an investigational product, AT-100, a recombinant form of human surfactant protein-D (rhSP-D), for the prevention of a serious lung condition called bronchopulmonary dysplasia (BPD) in preterm neonates.