Devices & Diagnostics

California pharma start-up targeting COPD & asthma using inhalers raises $65M

Redwood City, California-based late-stage start-up Pearl Therapeutics has raised $65 million in  a Series D funding round. The company is developing drugs delivered through an inhaler to tackle respiratory disorders like chronic obstructive pulmonary disorder and asthma. Investment came from current investors like Vatera Healthcare Partners, which led the round, as well as existing investors […]

Redwood City, California-based late-stage start-up Pearl Therapeutics has raised $65 million in  a Series D funding round.

The company is developing drugs delivered through an inhaler to tackle respiratory disorders like chronic obstructive pulmonary disorder and asthma.

Investment came from current investors like Vatera Healthcare Partners, which led the round, as well as existing investors like 5AM Ventures, Clarus Ventures and New Leaf Venture Partners.

The money will be used to start a Phase 3 clinical trial for PT003, the company’s lead candidate to treat COPD.

“Through our comprehensive Phase 2 program, Pearl has characterized the dose response, minimally effective dose and optimal dose for each of PT003’s components, providing us with a strong foundation for our end-of-Phase 2 meeting with the FDA and initiation of Phase 3 trials,” said Chuck Bramlage, Pearl Therapeutics’ chief executive office, in a news release.

Including this round, the company has raised a whopping $167.5 million since 2007. The previous rounds of fund have been used to run 10 clinical trials involving more than 1,000 patients.

“Pearl has executed the PT003 clinical program with an impressive speed and robustness, and we look forward to supporting the Company through its next steps in PT003’s clinical development to bring this unique therapeutic option to the market,” said Vatera Holdings LLC managing director and member of the Pearl Therapeutics Board of Directors, Sundar Kodiyalam, in the news release.

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