Liquidia Technologies,Inc., a Research Triangle Park, North Carolina-based biopharmaceutical company developing particle-based vaccines and therapeutics, has completed a $20m round of Series C financing.
Canaan Partners led the round, which also included Pappas Ventures and Morningside Venture Investments Limited as new investors.
Previous investors, including New Enterprise Associates and Firelake Capital, also participated in the financing round.
The funds will be used to accelerate Liquidia’s lead vaccine candidate through initial clinical evaluation and expand development of particle-based solutions for short interfering RNA Ribonucleic acid (siRNA) delivery and inhaled therapeutics.
Commenting on the round, Neal Fowler, CEO of Liquidia Technologies, said: “This additional funding provides further validation of Liquidia’s leadership in the development of particle-based vaccines and therapeutics”.
As part of the Series C financing, Stephen Bloch, MD, a General Partner with Canaan Partners, and Isaac Cheng, MD, with Morningside Technology Advisory LLC, have joined the Liquidia’s board of directors.
Last December, Liquidia received approximately $3m in funding from the U.S. Commerce Department’s National Institute of Standards and Technology (NIST).