Prosonix, a Oxford, UK-based specialty pharma company developing novel respiratory medicines, has held the second closing of a £17.1m Series B equity financing round.
Backers include Gimv, which invested £5.7m, Ventech, Gilde Healthcare Partners, Entrepreneurs Fund, Quest for Growth and Solon Ventures.
The company intends to use the proceeds of the financing to advance its proprietary product pipeline of therapies.
Led by CEO David Hipkiss, Prosonix is a specialty pharmaceutical company developing a portfolio of inhaled respiratory medicines of known and approved drugs, using its own particle engineering technology.
Its lead products include a generic drug for asthma (PSX1001) and for chronic obstructive pulmonary disease (PSX1002). The company is also advancing the development of its next-generation combination respiratory medicines.