Gimv invests £5.7m in series-B round for Prosonix

Gimv is joining existing investors Ventech, Gilde Healthcare Partners, Entrepreneurs Fund, Quest for Growth, and Solon Ventures, which kick-started the round with an £11.4m investment in July 2011.

The new funding will support the development of the company's product range of excipient-free, drug-only inhalable mono and combination therapies. 

Company
Prosonix is an Oxford-based pharmaceuticals company focusing on inhaled respiratory medicines. Its products are based on an ultrasonic particle engineering approach, using the company's trademarked Multi-component Particle (MCP) platform.

Prosonix' flagship products are PSX1001, an asthma drug, and PSX1002, a drug against chronic obstructive pulmonary disease.

The company was founded in 2006.

People
Karl Nägler, venture capital partner, led the deal on behalf of Gimv and will be joining Prosonix's board as non-executive director. Nägler also led the investment on behalf of Ventech in July 2011.

Dr Jim Phillips is non-executive chairman of Prosonix and David Hipkiss serves as chief executive.

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