Pneumagen said that it has closed an £8 million funding round, with proceeds going to support Phase 2 development of the company’s Neumifil multivalent carbohydrate binding module (mCBM) nasal spray, including a Phase 2b trial in COPD patients experiencing exacerbations caused by viral infection that is expected to be initiated in 2024.
The company announced in January 2022 that it had closed a £3.8 million funding round to support Phase 2 development and manufacturing of Neumifil. In May of that year, the company announced that a Phase 1 trial had demonstrated that the nasal spray was well tolerated, with no dose limiting toxicity. Pneumagen initiated a Phase 2a challenge study of Neumifil against influenza in August 2022 and now says that it expects to have initial results from that trial soon.
Pneumagen CEO Douglas Thomson commented, “We are very pleased to announce this funding from our existing and new investors. This financing speaks to their confidence in our strategy and the significant progress we have made.”
Read the Pneumagen press release.
