Airway Therapeutics has raised $50m in new equity financing to support its ongoing Phase IIb/III clinical trial of zelpultide alfa for the prevention of bronchopulmonary dysplasia (BPD) in very preterm infants.
The funds will also cover related chemistry, manufacturing and controls (CMC) and analytical activities required to advance the programme through late-stage development.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The latest funding consists of $26m from a previously completed SAFE financing and $24m raised in the new Series E-2 equity round. The company said that about 94% of its current investors took part in the Series E-2 fundraising round.
Investors included Cincinnati Children’s, along with several large family offices.
Airway Therapeutics chairman and CEO Marc Salzberg said: “We are extremely pleased by the strong participation and continued support of our existing investors, with approximately 94% of our current cap table participating in the Series E-2 round, reflecting their confidence in Airway, our team and the potential of zelpultide alfa.
“With this round, we are well positioned to maintain momentum across our late-stage clinical programme as we evaluate zelpultide alfa for the prevention of BPD in very preterm infants, a population with significant unmet medical need and no approved preventive therapies.”
Airway Therapeutics CFO and COO Alan Wolk said: “This round further solidifies Airway’s financial position as we execute the ongoing Phase IIb/III clinical trial and prepare for the programme’s next important development milestones.
“The proceeds provide us with the capital to support the clinical study as well as the CMC and BLA readiness analytical work necessary to advance zelpultide alfa through late-stage development in a disciplined and efficient manner.”
The company anticipates completing an interim analysis of the Phase IIb part of the trial by the end of the second quarter (Q2) of 2027.
Zelpultide alfa is a recombinant human surfactant protein D (rhSP-D) designed to modulate immune responses, enhance pathogen clearance and maintain surfactant homeostasis.
The Phase IIb/III trial follows a Phase Ib study in which the drug candidate showed a favourable safety and tolerability profile.
