Austin drug maker brings in $1.5M in new funding round

Sep 18, 2014
Austin Business Journal

Lung Therapeutics Inc., a health care startup that develops therapies for lung injuries and diseases, has raised $1.5 million of a $2.5 million round of funding, according to a recent SEC filing. Three investors contributed to this round, the filing shows

In March, the company joined the Austin Technology Incubator, which is a part of the IC2 Institute at the University of Texas. In a release announcing the addition of the company, ATI said Lung Therapeutics had received $12 million from the National Institutes of Health to fund development of drug candidates. The company has also received seed funding from the UT Horizon Fund, which is a strategic venture fund within the university

Lung Therapeutics CEO Brian Windsor stated at the time that the treatment of complicated pleural disease, which is the condition the company’s main drug candidate seeks to treat, is estimated to represent a billion dollar global market annually

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