Respirics Inc. Completed Series A Financing
Raleigh, North Carolina - September 27, 2005 Respirics Inc., a pulmonary drug delivery and development company with headquarters in Raleigh, North Carolina, announced today that it has closed its Series A round of financing, receiving funds from both new and existing investors in the company. The round included the participation of two Research Triangle area early-stage investment firms, Catalysta Ventures and Research Triangle Ventures.
The company received 510(K) clearance from the FDA earlier this summer to market its first product, MD Turbo™, for use with pressurized metered-dose inhalers (pMDIs).
Proceeds from the financing will be used to accelerate a number of internal drug development programs involving the company’s Acu-Breathe™ dry powder inhaler platform. “This financing strengthens our cash position and provides us with the resources needed to carry out the company’s growth strategy and fund important R&D activities” says Gil Mott, President and CEO of Respirics. “We are prepared to advance our most promising internal programs through all pre-clinical work required for entry into Phase 1 clinical trials.”
Respirics Inc. is a privately held respiratory drug delivery and development company located in Raleigh, North Carolina. The company has two proprietary delivery platforms, MD Turbo™ for use with metered dose inhalers, and Acu-Breathe™ single and multi-dose dry powder inhalers. Respirics partners with pharmaceutical and biotechnology companies, bringing proprietary drug delivery technology together with formulation expertise to develop products for commercialization. For more information, visit www.respirics.com.
Contact
Gilbert S. Mott, Jr., President and CEO
Respirics Inc.
1-
919-789-4220, ext. 103
gmott@respirics.com