Pneumagen, a spin-out firm from the University of St Andrews has secured a £2.5 million investment from a US-based global corporate investor and existing stakeholders.
Pneumagen said the funds will be used to support the clinical development of Neumifil as an intra-nasal formulation for the prevention and treatment of influenza, Respiratory Syncytial Virus (RSV) and COVID-19.
The additional investment follows on from last year’s announcement of a £4m funding and brings the total amount of financing raised to around £9.5m.
When administered intranasally in preclinical models, Neumifil has demonstrated prevention, treatment and post-exposure prophylaxis of the influenza virus and respiratory syncytial virus infection.
The product is a Carbohydrate Binding Module (mCBMs), generated using the company’s proprietary GlycoTarge platform.
Vulnerable patients
Priority targets for Neumifil are those at high-risk from viral respiratory tract infections including front-line health professionals and the elderly, especially those in care homes.
In addition, those who are obese, diabetic or are more susceptible to respiratory infections including seasonal flu, such as people with chronic obstructive pulmonary disease and asthma.
The firm, founded in 2016, said the unique modality binds to receptors that are used by pathogens to enter the respiratory airways, preventing infection and avoiding resistance.
It is being developed for the universal treatment of respiratory tract infections.
The company adds that Neumifil has the potential to revolutionise the treatment of respiratory tract infections, providing patients total protection against respiratory pathogens.
Douglas Thomson, chief executive of Pneumagen, said: “Our mission is to develop our novel pan viral approach to combat infectious respiratory diseases such as influenza, Covid-19, and other emerging viruses with pandemic potential.
“I am delighted with this additional investment and the endorsement that the participation of our new corporate investor brings.
“This investment will enable us to progress Neumifil into the clinic in mid-2021.”
