Airway Therapeutics, a Sharonville, Ohio-based biotechnology company focused on developing new interventions for acute and chronic lung diseases, beginning with premature infants, secured $6.3m in bridge financing.
Backers included Cincinnati Children’s Hospital Medical Center, CincyTech and Queen City Angels.
Led by CEO Marc Salzberg, and new Vice President of Manufacturing Paul V. Remsen, Airway Therapeutics is developing a protein replacement therapy to prevent and treat lung disease in the most vulnerable patients, beginning with premature born infants. In addition to patent protection, the company has received orphan designation status for AT -100 in Bronchopulmonary Dysplasia (BPD) in the US and European Union, which provides, among other incentives, a 7 and 12 year market exclusivity.
Airway intends to use the funds to continue to develop AT-100.