The Oxford, U.K.-based Prosonix has hauled in an added $9 million for its second venture round and plans to put the money to use developing a slate of inhalable drugs using its particle engineering technology. The new money brings its total B round to $27 million.
Gimv joined a slate of European venture groups already backing the biotech, which is working on development programs for an inhaled corticosteroid for asthma, a long-acting muscarinic antagonist (or LAMA) for chronic obstructive pulmonary disorder as well as combo treatments.
"Prosonix is at an important point in its development," says Gimv partner Karl Nägler in a statement. "Based on the demonstrated performance of its particle engineering platform and approach, the near-term product opportunities in its pipeline, its highly experienced team and a strong and experienced group of investors, we are confident that Prosonix can become a significant player in the area of respiratory medicines."
In other venture news this morning, Madison, WI-based Zurex Pharma says it has raised $6.2 million in its A round, with Baird Venture Partners and the State of Wisconsin Investment Board putting up the cash. Zurex has been developing antimicrobial washes designed to prevent hospital-acquired infections. And the CEO says it hasn't been easy raising cash in this financial environment.
"We're playing our version of 'The Hunger Games' here in Wisconsin," Carmine Durham told the Wisconsin State Journal. "For a company like ours, it's probably one of the most significant series A financings done in a long time."
- read the press release for Prosonix
- here's the story on Zurex