Airway Therapeutics, Inc., a Cincinnati, OH-based biopharmaceutical company developing a new class of biologics for patients with respiratory and inflammatory diseases, closed a $15.5m Series C financing round.
The backers were not disclosed.
The company intends to use the funds for the clinical development of AT-100 (rhSP-D), an investigational preventive treatment for the serious respiratory disease bronchopulmonary dysplasia (BPD) in very preterm infants, while also supporting preclinical research in influenza, respiratory syncytial virus (RSV) and cystic fibrosis.
Led by Marc Salzberg, M.D., president and CEO, Airway Therapeutics is a biopharmaceutical company developing a new class of biologics to break the injury cycle of inflammation for patients with respiratory and inflammatory diseases, beginning with the most vulnerable populations. The company is advancing the novel recombinant human protein rhSP-D, an engineered version of an endogenous protein that reduces inflammation and infection in the body while modulating the immune response.
Preclinical research in BPD demonstrated that Airway’s AT-100 prevented the onset of lung tissue damage, and reduced inflammation and infection triggered by mechanical ventilation and oxygen support. The U.S. Food and Drug Administration and European Medicines Agency have granted AT-100 Orphan Drug Designation.
In addition to the financing, Airway announced recent hires of Mr. Alan S. Wolk as Chief Financial and Operating Officer and Mr. Uday Patel as Vice President of Regulatory Affairs and Quality.