Aer Therapeutics, a Raleigh, North Carolina-based biopharmaceutical company developing novel inhaled treatments for muco-obstructive lung diseases, raised $36M in Series A funding.
Backers included Canaan, OrbiMed, and Hatteras Venture Partners. As part of the Series A financing, the company has expanded its board of directors to include new appointees:
- Tim Shannon, M.D., general partner at Canaan;
- Rishi Gupta, J.D., partner at OrbiMed;
- Christy Shaffer, Ph.D., general partner at Hatteras Venture Partners; and
- Thomas Mathers, CEO at Allievex.
The company intends to use the funds to advance the development of AER-01, its novel inhaled small molecule mucolytic drug designed to liquefy mucus plugs in the lungs of patients with chronic obstructive pulmonary disease (COPD).
Co-founded by Professor John Fahy and Professor Stefan Oscarson, and led by Jim Shaffer, President and CEO, Aer Therapeutics is a clinical stage biopharmaceutical company that specializes in airway mucus biology and pathology, medicinal glycochemistry, and inhaled pharmaceutics and the experience of its management team in drug development for lung disease. Phase 1 clinical trials of its lead drug candidate AER-01 will start in 2023 with potential to expand development into multiple other indications such as asthma, bronchiectasis and cystic fibrosis.
The company is a spin-out company of University College Dublin (UCD) and University of California, San Francisco (UCSF).
FinSMEs
14/04/2023