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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