Prosonix Secures £11.4M Series B Financing
News Aug 24, 2011
Prosonix, has announced the successful conclusion of a £11.4M financing round.
The round was led by Ventech (Paris, France), with support from additional new Investor Gilde Healthcare Partners (Utrecht, Netherlands) and existing Investors including Entrepreneurs Fund (London, UK) Quest for Growth (Leuven, Belgium) and Solon Ventures (London, UK).
The proceeds of the financing will be used to progress the Company’s emerging proprietary product pipeline of mono and multi-component combination therapies, and through Phase 2 Clinical trials as required.
Prosonix patented particle engineering technology provides a unique opportunity to develop novel and generic mono and combination respiratory medicines efficiently in a range of affordable and commercially available Metered Dose and Dry Powder Inhalers.
Commenting on the announcement David Hipkiss, Prosonix CEO said, “These new funds will allow us to attain key performance and clinical data for our pipeline of advanced fast-to-market respiratory programs that will deliver significant added value and benefits to patients and payors alike. Our new Investors bring additional and significant life science expertise which will prove invaluable in delivering the future success of the business.”
Dr Karl Nägler General Partner of Ventech added, “We are very excited about joining Prosonix at this critical step of its development. There is an exceptional opportunity to make Prosonix a significant player in the area of respiratory medicines, building on the proven performance of its particle engineering technologies and its highly experienced team.”