Pulmocide Raises $52 Million to Fund Additional Late-Stage Development of Opelconazole
Summary
LONDON, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Pulmocide Ltd., (the Company) a late-stage biopharmaceutical company developing novel inhaled therapies for patients suffering from serious acute and chronic respiratory diseases, today announces it has raised $52 million in a Series C extension round led by new investors Pictet Alternative Advisors and Vivo Capital. This brings the total raise for Series C to $147.5 million.Proceeds from the financing will be used to further fund clinical development, manufacturing scale-up, and preparation for potential commercialization of opelconazole. Aspergillus infection also plays an important role in severe asthma and cystic fibrosis and has been correlated with poorer clinical outcomes in patients with chronic obstructive pulmonary disease. This profile is anticipated to enhance efficacy with a low risk for adding to the toxicities and drug-drug interactions seen with systemic antifungal therapies. With 30 offices, it is also present in: Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Singapore, Shanghai, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.Pictet Alternative Advisors provides investment in alternative investment portfolios for private and institutional clients of Pictet Asset Management and Pictet Wealth Management.About Vivo Capital Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a diverse, multi-fund investment platform in venture capital, growth equity, buyout, and public equities.