Prosonix Receives £11.4M Equity Investment
Prosonix Ltd., an Oxford, UK-based developer of high value respiratory therapies enabled by its novel and proprietary particle engineering technology, has received an £11.4m equity investment.
Investors include Gilde Healthcare Partners, new backer Ventech and existing shareholders Entrepreneurs Fund, Quest for Growth and Solon Ventures.
The company intends to use the proceeds from the financing to advance its emerging proprietary product pipeline of mono and multi-component combination therapies, and through Phase 2 Clinical trials as required.
Prosonix patented particle engineering technology provides an opportunity to develop novel and generic mono and combination respiratory medicines efficiently in a range of affordable and commercially available Metered Dose and Dry Powder Inhalers.
Founded in early 2006, the company has commercialized its technology via partnering with a range of originator, specialty, device and generic pharma companies.
In conjunction with the financing, Edwin de Graaf from Gilde Healthcare Partners and Karl Nägler from Ventech will join Prosonix’ Board of Directors.