Pneumagen has secured £8m to support the development of Neumifil, its antiviral nasal spray for the treatment of viral respiratory tract infections (RTIs).
The University of St Andrews spin-out company raised funds from existing investors Thairm Bio and Scottish Enterprise, alongside new investor Esperante Ventures, its directors and as several US-based investors.
The money should enable the business to advance the clinical development of Neumifil for individuals with Chronic Obstructive Pulmonary Disease (COPD) suffering from virus-induced exacerbations.
