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ARTICLE | Financial News

June 4 Financial Quick Takes: Lung Therapeutics' $36M series C; plus Strand, Hansoh, Inhibrx and more

June 4, 2019 9:11 PM UTC
Updated on Dec 10, 2019 at 3:32 AM UTC

Lung Therapeutics closes $36M series C
Lung Therapeutics Inc. (Austin, Texas) raised $36 million in a series C round led by Bios Partners with participation by undisclosed new and existing investors. Lung has raised $53 million to date. The company plans to begin in 4Q19 a Phase II trial of lead compound, LTI-01, in pneumonia patients with loculated pleural effusions and a Phase I trial of non-fibrinolytic peptide LTI-03 in idiopathic pulmonary fibrosis. LTI-01 is a single-chain urokinase plasminogen activator, and LTI-03's mechanism of action is undisclosed (see "Effusion Dissolution").

Strand raises $6M seed round
Strand Therapeutics Inc. (Cambridge, Mass.) raised $6 million in a seed round led by Playground Global with participation by Alexandria Venture Investments, ANRI and undisclosed private investors. The company will use the funding to grow its gene therapy pipeline and develop its synthetic biology platform for controlling therapeutic mRNA expression. The platform uses RNA-binding proteins and destabilization domains that respond to small molecules, which can regulate when, where and how potently mRNA transcripts are expressed (see "Strand’s Smart mRNA")...