Respirics concludes series A financing

By Jennifer Chiou

New York, Sept. 27 - Respirics Inc. said it closed a series A round of financing.

Catalysta Ventures and Research Triangle Ventures contributed to the round. Details of the financing were not made available.

"This financing strengthens our cash position and provides us with the resources needed to carry out the company's growth strategy and fund important R&D activities," president and chief executive officer Gil Mott said in a news release.

"We are prepared to advance our most promising internal programs through all pre-clinical work required for entry into Phase I clinical trials."

The company said it will use the proceeds to move forward with its internal drug development programs, including the Acu-Breathe multi-dose dry powder inhaler platform.

Raleigh, N.C.-based Respirics is a pulmonary drug delivery and development company. It also has MD Turbo for use with metered-dose inhalers, for which it received clearance from the FDA for marketing.

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