Pneumagen (Holdings) Ltd, a St Andrews, Scotland, UK-based company focused on treating infectious diseases by targeting the human glycome, raised GBP £4m in funding.
The round was led by Thairm Bio (Thairm) with participation from the Scottish Investment Bank (SIB).
The company intends to use the funds for the clinical development of Neumifil for the prevention and treatment of COVID-19.
Led by Douglas Thomson, CEO, Pneumagen is advancing Neumifil, a Carbohydrate Binding Modules (mCBMs), generated using its proprietary GlycoTarge™ platform. It is being developed for the universal treatment of respiratory tract infections (RTIs) caused by Influenza Virus and Respiratory Syncytial Virus, and now coronaviruses including SARS-CoV-2, the cause of COVID-19. Pneumagen is a spin-out from the University of St Andrews in Scotland.