BioMarck Pharmaceuticals says it has closed its Series C round with over $6.3 million in financing. The Research Triangle Park, NC-based company raised most of the capital through existing investors. The funds, along with a NIH grant of $990,000, will be used to advance the candidate BIO-11006 through a phase II clinical trial for chronic obstructive pulmonary disease (COPD).
"This is a powerful endorsement of our mission to treat COPD and other respiratory diseases associated with the over secretion of mucus and pulmonary inflammation," Allen F. Gant, Chairman and CEO said in a statement. "I am delighted to have closed the round in a period that has seen unprecedented financial turmoil Worldwide, and at a time when biotech funding is more arduous. BioMarck has generated significant value since our prior financing round and this is reflected in the strong support from our shareholders."
- read the BioMarck release