Updated: Mon, 20th Mar. 09:13:19
(ShareCast News) - Touchstone Innovations announced on Monday that it participated in a £25m Series B funding round in Pulmocide, committing £3m to the round alongside new investors SR One and Longwood Fund, plus existing investors SV Life Sciences, F-Prime Capital, and Johnson & Johnson Innovation.
The AIM-traded company described Pulmocide as a privately-held drug development company located in London, which was developing novel small molecule inhaled medicines for the treatment of life threatening respiratory infections caused by respiratory syncytial virus (RSV) and Aspergillus.
It said the new funding would enable Pulmocide to advance its assets through early clinical development.
Pulmocide was reportedly on track to deliver proof of concept data in RSV using its highly potent inhaled RSV antiviral agent 'PC786' in human RSV challenge and in infants hospitalised with bronchiolitis due to RSV infection.
Pulmocide would also be progressing its 'PC945', described as a potent azole antifungal for the treatment of pulmonary Aspergillosis, including fungal asthma, pulmonary Aspergilloma, Aspergillus infections in lung transplant recipients and patients with cystic fibrosis.
"We continue to support this strong entrepreneurial management team to progress the company's two novel compounds through early clinical development; another step closer to a treatment for patients with life-threatening lung infections," said Touchstone's director of healthcare ventures Maina Bhaman.
"Pulmocide is yet another example of a portfolio company that has been able to attract a powerful group of investors and we would like to welcome SR One and Longwood to the syndicate."
As at 31 July, Touchstone Innovations had a 24.1% interest in the issued share capital of Pulmocide.
Following the new investment, it will hold an 18.5% stake in the issued share capital of the company.
|EPIC CODE||COMPANY NAME||TRADE|
Disclaimer: This news feed is provided by Digital Look Ltd. BullBearings Ltd do not necessarily share the views expressed within the stories. The stories are for general information purposes only and not a solicitation or personal recommendation to deal. BullBearings Ltd accepts no liability or responsibility for any of the content contained in the information provided by Digital Look Ltd.
They say “breaking up is hard to do” but in financial market break-ups spinoffs can be very profitable and give companies a new lease of life.
A spinoff is the creation of an independent company or in some cases more than one company through the sale or distribution of new shares of an existing listed company to shareholders holding the parent company at a certain date.
Three years ago I came up with the concept for a investment-focused podcast for the ShareTalk website I work on, called Conkers' Corner after my Twitter handle of @conkers3, and five months ago the first recording was made. Below are some of the lessons I have learned or have been reinforced during these years.
The concept of Conkers' Corner is very simple yet extremely educational and beneficial for all: the participants in the podcasts and interviews since I started in May 2016 have included shrewd investors/traders, ISA millionaires, high net worth individuals, business leaders, CEOs, highly respected fund managers and investment writers.
There’s a great debate in the financial industry about which type of analysis produces the best results for traders - is it better to be a technical trader or to rely on the fundamentals?
Is there a common ground between the two? We’ve all heard the phrase All roads lead to Rome. In this article we’ll explore whether this applies to the financial markets.
Graham Spooner, investment research analyst at the Share Centre, picks three top shares among the most popular purchases by equities clients in the last seven days.