A Texas-based startup called TFF Pharmaceuticals announced that it raised $14 million in a Series A preferred stock offering and that it plans to use the funds for development of dry powder formulations for the treatment of a wide variety of pulmonary diseases.
The company said that it has an exclusive license to thin film freezing (TFF) technology developed at the University of Texas at Austin and that the TFF platform “does not require a proprietary device, excipient or delivery molecule to obtain deep lung delivery of small molecules, biologics, or uniform combo drugs of small molecules and/or biologics.”
According to TFF, the company has already created a number of DPI formulations of poorly soluble drugs for which pulmonary delivery is not feasible by any other method.
TFF Pharmaceuticals CEO Robert Mills commented, “We are excited with the strong investor interest in TFF and pleased to have this caliber of investors participate in our initial equity financing. The investment represents a strong vote of confidence in TFF’s product pipeline of unique dry powder formulations for new pulmonary products; and our ability to generate dozens of potential drug candidates with promising commercial potential.”
Read the TFF Pharmaceuticals press release.
