Eleven investors contributed to the round, which kicked off Aug. 18. The Carrboro-based firm is still seeking to raise another $1.7 million, the filing noted.
Inhalon Biopharma, headed by associate professor Sam Lai and his team at UNC Eshelman School of Pharmacy, is developing monoclonal antibodies (mAb) using technology that enables trapping of pathogens in mucus secretions for treating diseases of the respiratory tract.
Founded in 2018, Inhalon’s lead product is for treatment and prevention of respiratory syncytial virus (RSV), which causes infections of the lungs and respiratory tract, and is common in children.
According to the National Institute of Allergy and Infectious Diseases, in the United States nearly all children become infected with RSV by age two, with 75,000 to 125,000 hospitalized each year. Around the world, RSV affects an estimated 64 million people and causes more than 150,000 deaths each year.
The filing does not indicate how the startup plans to use the proceeds.
Currently, there is no vaccine or treatment for RSV.
Original Article Source: WRAL TechWire