Pulmotect announced that it has raised $5.9 million in a Series C funding to support a Phase 2 trial of the company’s PUL-042 immunostimulant inhalation solution. According to Pulmotect, the new funds will be used along with an $8.9 million Product Development Research grant awarded last year by the Cancer Prevention and Research Institute of Texas (CPRIT) for the Phase 2 study in immunosuppressed cancer patients.
The trial is titled, “A Phase 2 Multiple Dose Study to Evaluate the Efficacy and Safety of PUL-042 Inhalation Solution in Reducing Lower Respiratory Tract Complications in Patients with Hematologic Malignancies and Recipients of Hematopoietic Stem Cell Transplantation (HSCT) with Documented Viral Infections with Parainfluenza Virus (PIV), Human Metapneumovirus (hMPV) or Respiratory Syncytial Virus (RSV).”
In September 2021, the company announced results from one of 2 Phase 2 trials that evaluated the effectiveness of PUL-042 against SARS-CoV-2 in patients with COVID-19. That trial found that treatment with PUL-042 significantly reduced the time for improvement in respiratory symptoms.
Pulmotect CEO Colin Broom commented, “We appreciate the tremendous support from our lead investor Fannin Partners and welcome the support from global healthcare investor Axil Capital to advance the development of our promising lead candidate PUL-042. The equity proceeds and grant award allow us to fund our Phase 2 AntiViral trial and further develop our unique anti-infective asset.”
Read the Pulmotect press release.
