Aer Therapeutics Closes $36 Million Series A To Advance Development Of Aer-01, An Innovative Mucolytic For The Treatment Of Lung Diseases

Apr 13, 2023•over 2 years ago

Amount Raised

$36 Million

Round Type

series a

RaleighBiotechnology

Investors

Aer TherapeuticsHatteras Venture PartnersOrbi MedCanaan

Description

Aer Therapeutics, a biopharmaceutical company developing novel inhaled treatments for muco-obstructive lung diseases, today announced the closing of a $36 million Series A financing. Funding was received from a syndicate of premier life science industry investors, including Canaan, OrbiMed, and Hatteras Venture Partners. Proceeds from the financing will be used to advance the development of AER-01, the company's novel inhaled small molecule mucolytic drug designed to liquefy mucus plugs in the lungs of patients with chronic obstructive pulmonary disease (COPD). Aer Therapeutics plans to initiate a first-in-human Phase 1 clinical trial of AER-01 in mid-2023.

Company Information

Company

Aer Therapeutics

Location

400 W NORTH STREET

Raleigh, North Carolina, United States

About

Aer Therapeutics is a clinical stage biopharmaceutical company developing a novel inhaled approach to treat lung disease with excess mucus and mucus plugs. We are focused on treating respiratory diseases with significant unmet need, such as COPD, cystic fibrosis and asthma. Our technology was developed and spun out of Dr. John Fahy’s airway biology lab at University of California San Francisco (UCSF) in collaboration with Dr. Stefan Oscarson’s glycochemistry lab at University College Dublin and Dr. Anne Marie Healy’s pharmaceutics lab at Trinity College Dublin. The efforts of this research consortium led to over $18M in NIH grant funding, resulting in the identification of our lead therapeutic candidate (AER-01), establishment of preliminary safety and efficacy profiles, and the production of clinical trial API.

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