SR One leads $30m series-B for Pulmocide
SR One, the corporate venture capital arm of GlaxoSmithKline, has led a $30m funding round for London-based biotechnology company Pulmocide.
SR One was joined in the round by Longwood Fund, as well as existing investors SV Life Sciences, F-Prime Capital, Johnson & Johnson Innovation and Touchstone Innovations.
The company will use the extra funding to put its treatments through early clinical development. The main projects it will pursue are PC786, an anti-viral agent for respiratory syncytial virus; and PC945, an antifungal treatment for pulmonary aspergillosis.
Previous funding
In November 2013, Imperial Innovations led a £17m series-A round for Pulmocide. Imperial contributed £4.25m of the total and was joined by SV Life Sciences, Fidelity Biosciences and Johnson & Johnson Innovation.
Company
Pulmocide was founded in 2013 and originally operated out of the Imperial BioIncubator, an Imperial College initiative to provide life sciences startups with laboratory and office space. The company develops drugs and treatments for common acute and chronic respiratory tract infections with minimal unwanted systemic effects.
People
SR One – Matthew Foy (partner).
Pulmocide – Garth Rapeport (CEO).
More on Early-stage
Sidekick spinoffs: Insurtech scale-ups attract PE interest
Investment set to break EUR 1.1bn mark this year as sponsors seek for rising stars
World Fund leads EUR 128m raise for quantum computing group IQM
Series-A2 for Finnish startup focused on combating the climate crisis also backed by the EIB
Gorillas raises circa USD 1bn in Delivery Hero-led Series C
New funding comes just seven months after a Series B, with the company doubling in value
French mega-rounds shoot up in 2021
France has already seen as many rounds of EUR 100m and above than in 2019 and 2020 combined, Unquote Data shows
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater