Oriel Therapeutics, a spin-off from UNC Chapel Hill, presented the UNC CH Foundation with 55,000 shares of stock Thursday as part of its privatization agreement.

Oriel, which recently closed on $2 million in venture financing, was launched in 2001. The company also has received $250,000 in grants.

Oriel is focused on development of a inhaled drug delivery technology, including a dry-powder inhaler which the company expects to begin clinical trials within the next six months.

The stock transfer had been scheduled for when Oriel received the financing.

“Our recent capital infusion further validates Oriel’s technology, and it should be enough to carry our product through clinical trials and into the market,” said Oriel Chief Executive Officer Paul Atkins in a statement. “We should be ready for clinical trials in about six months.”

Oriel’s inhaler is based on research done by Anthony Hickey and Timothy Crowder, who founded the company. Hickey is the chief scientific officer, Crowder the chief technology officer.

Oriel: www.orieltherapeutics.com