Vast Therapeutics, Inc., a Durham, N.C.-based preclinical-stage pharmaceutical company, completed a Series A financing of undisclosed amount.
Shionogi & Co. was the single investor in the round.
The company intends to use the funds to advance their novel nitric oxide powder platform through pre-clinical testing and first-in-human clinical safety and efficacy trials during the next 2 years and add several key positions, primarily in drug development.
Led by Neal Hunter, CEO and Chairman, Vast Therapeutics, a subsidiary of KNOW Bio, LLC, formerly known as Novoclem Therapeutics, Inc., is an innovative, preclinical-stage pharmaceutical company focused developing a nitric oxide-based drug to treat cystic fibrosis patients battling chronic Pseudomonas aeruginosa infections. It anticipates submitting an lnvestigational New Drug application and initiating First-in-Human clinical trials in 2019.