BioCentury
ARTICLE | Finance

Pulmatrix's breathing room

Why Pulmatrix and its VCs opted to go public through a reverse merger

June 29, 2015 7:00 AM UTC

VC investors in Pulmatrix Inc. (NASDAQ:PULM) have helped the pulmonary company orchestrate a reverse merger and a private placement that gets it on the public markets with enough cash to make it to at least two data events. The question is whether the milestones will enable Pulmatrix to buck the trend of generally lackluster performances by other recent reverse mergers.

Pulmatrix raised a $2.7 million seed round in 2006, followed by a $12 million series A the following year and a total of $44.2 million in series B closings in 2009 and 2011. ...