Malvern’s Onspira Therapeutics, which develops treatments for patients with rare pulmonary diseases, has raised $1 million from a private stock sale, writes John George for the Philadelphia Business Journal.
Onspira was launched by Malvern life sciences management company NeXeption. NeXeption was founded six years ago by Stephen Tullman to build companies by joining pharmaceutical product opportunities with experienced management and funding.
The lead drug candidate for Onspira is an inhaled IL-1 antagonist protein. The cutting-edge treatment is being developed to potentially help with bronchiolitis obliterans syndrome in post-lung transplant patients. As a chronic lung dysfunction, bronchiolitis obliterans syndrome is an often fatal condition that affects thousands of people worldwide every year.
Onspira is also working on potential new therapies for both interstitial pulmonary fibrosis and cystic fibrosis.
Read more about Onspira in the Philadelphia Business Journal here.