Liquidia Technologies, a Research Triangle Park, North Carolina-based developer of engineered particles for improved delivery of biologics and small molecules for vaccine and therapeutic applications, received a $10m program-related investment (PRI) from Bill & Melinda Gates Foundation.
The company intends to use the proceeds from the investment to develop and commercialize safer and more effective vaccines and therapeutics.
This follows first clinical trial of its lead seasonal flu candidate (LIQ001) and a collaborative agreement with the PATH Malaria Vaccine Initiative (MVI).
Led by CEO Neal Fowler, Liquidia offers a proprietary PRINT technology that allows control of particle size, shape, and chemistry in a highly consistent and scalable manufacturing process. It gives the company the ability to advance cost-effective, potent vaccines for a variety of markets and disease targets such as malaria, that primarily affect people in the developing world.
In addition to its own products, the company licenses its technology and its GMP manufacturing capabilities to support proprietary programs advanced by collaborators.
Liquidia recently raised a Series C funding.