Biotech Pneumagen raises £3.8m for nasal spray treatment for respiratory viruses

Biotechnology company Pneumagen has raised a further £3.8 million to advance the clinical development and manufacturing of its pan-antiviral, intranasal drug for the prophylaxis and treatment of viral respiratory tract infections (RTIs).

Pneumagen’s lead product Neumifil is being designed as a nasal spray to protect against respiratory viruses such as influenza, respiratory syncytial virus (RSV) and coronaviruses including SARS-CoV-2.

Currently, Neumifil is being assessed in a Phase I study with top line results anticipated in the first half of 2022. 

The latest funding round brings total capital secured to date by Pneumagen to £14m.

Pneumagen will use the funding to advance Neumifil into a Phase II trial, where it will work with hVIVO to conduct an influenza controlled human challenge study. Pneumagen will also work with FUJIFILM Diosynth Biotechnologies to conduct further GMP manufacturing. The company will also conclude extended GLP toxicology studies to support the Phase II programme.

The financing round was co-led by existing investors, Thairm Bio and Scottish Enterprise.

Neumifil is a unique multivalent carbohydrate binding molecule (mCBM) generated using Pneumagen’s GlycoTarge technology platform that acts by binding to epithelial cell surface sialic acid receptors in the respiratory tract, thereby stopping viruses at the site of infection, reducing their ability to both enter cells in the respiratory tract and migrate to the lungs. Neumifil has shown potent anti-viral activity against a broad range of infections caused by influenza viruses, RSV and SARS-CoV-2 in pre-clinical studies, and its differentiated mechanism of action means it is less susceptible to direct viral resistance.

Douglas Thomson, CEO of Pneumagen, commented: “This further funding ensures that we can continue the rapid clinical development progress of Neumifil. Our agreements with hVIVO and FUJIFILM Diosynth Biotechnologies are significant operational advances as we execute our Phase II clinical programme in 2022.”

“Neumifil has the potential to significantly improve the lives of patients suffering from viral respiratory tract infections. As a pan-antiviral, easy to use, self-administered novel treatment option, Neumifil has the potential to have a significant impact on decreasing the risk of hospitalisation and death, through the prevention and treatment of multiple respiratory viral infections, for patients who suffer from viral exacerbations of underlying chronic lung disease.”