Peroxitech Announces Closing of $25M Series A Financing to Develop Novel Treatment for Acute Lung Injury

Published on :

Peroxitech Inc., an emerging biopharmaceutical company developing a novel peptide for treating acute lung injury (ALI), announced the successful completion of a Series A financing round of $25 million led by the Perceptive Xontogeny Venture Fund (“PXV Fund”). The company will use the proceeds to build upon the preclinical work conducted through collaborative partnership and seed investment with the Xontogeny development team to advance the lead candidate, PIP-2, through IND-enabling studies and into clinical development.