Particle engineering company Prosonix has secured £11.4M from a group of investors led by French venture company Ventech. Other investors involved in this round of financing include Entrepreneurs Fund, Quest for Growth, and Solon Ventures, all of which are already invested in Prosonix, plus new investor Gilde Healthcare Partners.
The company plans to use the money for continued development of its pipeline of proprietary products for inhalation, both mono and multi-component drugs for either DPI or MDI delivery. Prosonix’s pipeline includes a number of inhaled corticosteroid (ICS) candidates, a short acting beta agonist (SABA) and a long acting muscarinic agonist (LAMA), plus combination particles involving those compounds.
Prosonix CEO David Hipkiss remarked,“These new funds will allow us to attain key performance and clinical data for our pipeline of advanced fast-to-market respiratory programs that will deliver significant added value and benefits to patients and payors alike. Our new Investors bring additional and significant life science expertise which will prove invaluable in delivering the future success of the business.”
“We are very excited about joining Prosonix at this critical step of its development. There is an exceptional opportunity to make Prosonix a significant player in the area of respiratory medicines, building on the proven performance of its particle engineering technologies and its highly experienced team,” commented Ventech’s Karl Nägler.
Read the Prosonix press release.
