PrEP Biopharm Limited, a London, UK-based developer of respiratory infectious disease products, closed a £21m Series A financing round.
The round was led by hVIVO plc and Johnson & Johnson Innovation – JJDC, Inc. with participation from U.S.-based angel investors.
The company will use the funds to complete ongoing phase 2a development of its lead compound, PrEP-001*.
Co-founded by CEO Ryan Muldoon and CSO Dr. Bruce Malcolm, PhD, PrEP Biopharm is a development stage biopharmaceutical company focused on the prevention of respiratory infections. The company is developing and will market infectious disease products based on intellectual property licensed in from Janssen Sciences Ireland. Its pipeline includes one product in phase 2 for the prevention of upper respiratory tract viral infections.
*PrEP-001 is a nasally administered, broad-spectrum agent that leverages the innate immune system to prevent upper respiratory tract viral infections (colds and flus). A human proof of concept trial with the compound has been completed, with data from that study supporting further clinical evaluation. The program is designed to help the large number of high risk patients who currently suffer substantial morbidity and mortality from respiratory viral infections.