Swedish Pulmologix AB has closed a series B financing of EUR 9.6 million to develop a new oral non-steroidal anti-asthmatic (ONSA) for the treatment of early onset allergic asthma.
According to a press release, the financing was led by Novo Seeds, the seed fund of Novo A/S, and Sunstone Capital of Denmark. Previous investors Forbion Capital Partners of the Netherlands and HealthCap also participated in the round.
“We are pleased to invest in Pulmologix and view this as an exciting opportunity in a common and undertreated disease” says Bobby Soni, Investment Director of Novo Seeds who together with Andreas Segerros of Sunstone now joins the Board of Directors.
The company’s proprietary lead compound is targeting the allergic reaction triggering human asthma and is scheduled to enter phase I trials later this year and clinical proof of concept trials in 2015.
“Patients and clinicians have a strong preference for oral, safe and effective asthma medicines over inhaled medications. We believe that Pulmologix lead compound addresses this need and has a great market potential” says Dr Carl-Johan Dalsgaard, CEO and co-founder of Pulmologix.