Lung Therapeutics Secures $36 Million Series C Financing to Advance Clinical Development of Therapies for Rare Lung Diseases

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on June 4, biopharmaceutical company Lung Therapeutics announced the completion of a $36 million Series C financing round. The round was solely invested by Bios Partners, and the proceeds will be used to further develop new therapies for rare lung diseases. To date, Lung Therapeutics has raised a total of $53 million.

Lung Therapeutics, founded in 2013, is a biopharmaceutical company based in Austin, Texas, USA. The company primarily focuses on rare pulmonary diseases, such as fibrosis and localized pleural effusion. Currently, Lung Therapeutics is developing a novel therapeutic agent that holds promise for providing new treatment options for patients with rare lung diseases.

Currently, Lung Therapeutics has three core R&D pipelines: LTI-01, LTI-03, and LTI-05. Among them, LTI-01 has entered Phase II clinical trials for the treatment of loculated pleural effusion (LPE), a severe complication of pneumonia; LTI-03 has entered Phase I clinical trials for the treatment of idiopathic pulmonary fibrosis (IPF); and LTI-05 remains in the preclinical development stage.

Lung Therapeutics’ R&D Pipeline (Image source: official website)

Dr. Brian Windsor, CEO of Lung Therapeutics, stated, “We are deeply grateful to our investors for their support. We will utilize this funding to advance the development of our LTI-01 and LTI-03 pipelines, with the development of LTI-01 marking our first entry into Phase II clinical trials. Both products hold promise as novel therapeutic agents for patients with LPE/IPF worldwide.”

Notably, LTI-01 received multiple grants from the U.S. National Institutes of Health (NIH) and other relevant programs at the outset of its development, and was granted orphan drug designation by the FDA and the European Commission for the treatment of localized pleural effusion (LPE).

“Patients with LPE typically require surgical intervention to treat pleural effusion, whereas LTI-01 has the potential to become the first approved pharmacological therapy for LPE. This drug can significantly reduce hospitalization duration and costs, thereby improving patients’ quality of life,” stated Aaron Fletcher, Director at Bios Partners, in his assessment of LTI-01.

The active pharmaceutical ingredient of LTI-01 is a proenzyme that undergoes slow activation within the pleural space surrounding the lungs. Early studies have demonstrated that once-daily administration of this compound in patients with lung pleural effusion (LPE) effectively clears scar tissue and promotes drainage of peripulmonary fluid, without posing risks of bleeding or surgical complications. The drug has been proven safe and effective in these studies.

Lung Therapeutics’ other core product, LTI-03, is a therapeutic agent for idiopathic pulmonary fibrosis (IPF). IPF is a chronic lung disease characterized by progressive scarring of the lungs, with an approximate mortality rate of 80%. LTI-03 exhibits potent anti-fibrotic effects, helping to preserve normal lung function in patients with IPF. The drug has demonstrated anti-fibrotic activity in various fibrosis models and possesses the ability to protect lung cell health.

Bios Partners is a private equity firm headquartered in Fort Worth, Texas, USA. The company focuses on investing in early-stage and growth-stage biotechnology and medical device companies.

(Compiled by: Wang Chan)