Pneumagen Ltd, a St Andrews, Scotland, UK-based company focused on preventing and treating respiratory infections by targeting the human glycome, raised a further GBP2.5m in funding.
Backers included existing investors plus a new undisclosed global corporate investor, based in the US.
The investment will be used to support the clinical development of Neumifil™ in 2021 as an intra-nasal formulation for the prevention and treatment of influenza, Respiratory Syncytial Virus (RSV) and COVID-19.
Led by Douglas Thomson, CEO, Pneumagen is a spin-out from the University of St Andrews in Scotland which is using its platform technology, GlycoTarge, to develop glycan targeted carbohydrate-binding module domains (mCBMs) derived from bacterial glycosidases as a new universal therapeutic modality for the prevention and treatment of respiratory tract infections (RTIs). These engineered mCBMs have been shown to prevent and treat respiratory infections by binding to epithelial cell surface glycan receptors present in the respiratory tract, used by several pathogens for entry.
Pneumagen’s lead product, Neumifil, is a first-in-class mCBM40 being developed for the universal treatment of Influenza Virus (IFV), Respiratory Syncytial Virus (RSV), and coronavirus COVID-19 infections. When administered intranasally in preclinical models, Neumifil has demonstrated prevention, treatment and post-exposure prophylaxis of IFV and RSV infection.