Respira Therapeutics has announced that it will relocate to New Mexico after receiving new funding from Santa Fe-based Sun Mountain Capital and Cottonwood Technology Fund. The total amount of the investment from the venture capital funds, as well as from private individuals, was not disclosed.
Respira CEO Bob Curtis said, “Respira is very pleased to welcome Sun Mountain as a new investor and for the continuing support and confidence of Cottonwood in our future success. The funds raised in this round will be used to transition Respira from an inhaler technology-based company into a pharmaceutical development company targeting drug/inhaler products used for the treatment of important diseases. We have relocated our headquarters from Santa Fe, NM and our technical laboratory from Austin, TX, both to Albuquerque, New Mexico, where our initial inhaler technology was invented at the University of New Mexico.”
Sun Mountain’s Brian Birk added, “We believe Respira has developed a truly breakthrough high efficiency, dry powder inhaler (DPI) drug delivery technology that is poised to revolutionize the inhaled prescription therapeutics market. I look forward to working with this highly experienced team and the board to advance this technology to clinical trials and ultimately the market.”
Read the Respira press release.
