Genoa Pharma grabs a $62M A round to back its oral IPF drug Aerodone
Bruce Montgomery has added $62 million to the $250 million tally of venture cash he’s helped raise for the biotechs he’s worked with over the years.
The Series A round goes to Genoa Pharmaceuticals, a startup in Seattle that now has the cash on hand to score Phase II efficacy and safety data on an inhaled formulation of pirfenidone (Esbriet) for idiopathic pulmonary fibrosis.
Esbriet was approved back in 2014 alongside nintedanib (Ofev), helping change the way IPF is treated in the US. But the advances still leave plenty of room for improvement, Montgomery believes, and that’s where the inhaled formulation comes into play.
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