biotech

Pulmocide, a biotech firm run by former GlaxoSmithKline scientists, has closed a $30.4m Series B.

The funding, which will be used to further develop its wholly-owned treatments for respiratory syncytial virus (RSV) and pulmonary aspergillosis, came from SV Life Sciences, Johnson & Johnson’s venture capital arm.

The London-based company also drew support from Touchstone Innovations and F-prime, the venture capital arm of Fidelity.

“Respiratory infections are a significant cause of global morbidity and mortality with a high unmet medical need,” said company CEO Garth Rapeport.

“Pulmocide is developing bespoke inhaled medicines to provide effective and safe therapies for the treatment of RSV and pulmonary Aspergillosis. Our approach is to direct the drug to the site of the infection through an inhaler,” he explained.

The funding, the CEO added, will enable the firm to advance two of its ‘novel’ compounds through early clinical development.

“We are delighted by the interest we’ve received in this round and would like to thank our new and existing shareholders for their support and continued commitment to Pulmocide. We look forward to providing further pipeline updates as developments progress with our important programmes,” Rapeport added.

The news comes after the biotech firm secured $17m Series A round from four investors in November 2013.

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