Lung Therapeutics, Inc., an Austin, Texas-based clinical stage pharmaceutical company developing novel therapeutics for niche, orphan drug indications in fibrosis, lung injury and disease, closed a $14.3m Series B financing.
The round was led by Bios Partners, with participation fro existing investor UT Horizon Fund.
Led by Brian Windsor, PhD, CEO, Lung Therapeutics is a clinical stage pharmaceutical company leveraging research in lung injury and disease due to fibrosis by pursuing niche, orphan drug indications for which there is no current effective therapeutic option. The company is advancing effective drugs for the non-surgical treatment of fibrosis in and around the lungs:
– LTI-03 for Idiopathic Pulmonary Fibrosis and
– LTI-01 for Pleural Effusion with Loculation.
The company, which has raised $17m in total outside funding and $27M in non-dilutive funding awarded for discovery research and development for both drug candidates, intends to use the capital for ongoing LTI-01 clinical trials in Australia and New Zealand, as well as development activities to advance the drug for fibrosis, LTI-03.