Prosonix Extends Series B Financing Round to £17.1M
Prosonix announced the second closing of its Series B equity financing round. In extending the financing round to £17.1M, the Company raised an additional £5.7M from new investor Gimv, a leading European technology investor, as well as from the syndicate of investors that participated in the first closing of the round in June 2011. The syndicate includes Ventech (Paris, France), Gilde Healthcare Partners (Utrecht, Netherlands), Entrepreneurs Fund (London, UK), Quest for Growth (Leuven, Belgium) and Solon Ventures (London, UK).
Dr Karl Nägler, a Venture Capital Partner at Gimv, will also join the Prosonix board as a Non-executive Director.
The proceeds of the financing will be used to progress the Company’s emerging proprietary product pipeline of excipient-free, drug-only inhalable mono- and combination therapies. Prosonix applies its proprietary ultrasonic particle engineering technology to existing drug compounds in low-cost generic devices, utilising where possible the new regulatory guidelines for accelerated approval.
Other news from the department business & finance
