UNC Chapel Hill spinout Liquidia has secured an initial $25.5m and is aiming for a $53.3m close.
Liquidia Technologies, a US-based biopharmaceutical spinout from University of North Carolina at Chapel Hill, has raised $25.5m in funding, according to a regulatory filing on Tuesday.
The round, which has a target size of $53.3m, includes up to $27.8m in series D shares offered to shareholders in a rights offering. The identity of the investors has not been disclosed.
Founded in 2004, Liquidia has developed technology, dubbed Print, to precisely engineer drug particles. It has a range of drug candidates in its pipeline, including its lead candidate, LIQ861, a treatment currently undergoing a phase 3 trial for pulmonary arterial hypertension.
Liquidia is commercialising research by Joseph DeSimone, the chancellor’s eminent professor of chemistry, and Edward Samulski, chairmain of the Department of Applied Physical Sciences.
The company’s latest funding round comes two weeks after it appointed Kevin Gordon as president and chief financial officer. Gordon had previously been executive vice-president and…
