BOONE — Pneuma Respiratory Inc., a Boone-based pharmaceutical company, has raised nearly $500,000 in a private equity sale, according to a filing Tuesday with the Securities and Exchange Commission.

Pneuma Respiratory

The company raised $494,216 from four investors and said it wanted to raise a total of $5 million.

Pneuma Respiratory raised $8.3 million in July 2018 in a Series A financing round. It also received a $10 million investment from Haisco Pharmaceutical Group, which has retained distribution rights for the Pneumahaler in China.

The company, founded in 2015, has developed an breath-activated inhaler called the Pneumahaler. It uses Bluetooth technology to provide feedback on drug delivery to patients, family members and health care providers.

Using the company’s digital droplet ejector technology, the device, although currently available for investigational purposes only, has the potential to ultimately deliver a spectrum of novel therapies, including biologics, through the lungs.

Eric Hunter is the chief executive officer of the company. He is author or co- author on over 130 patents and has extensive experience in the founding and managing a range of businesses in the high technology, manufacturing and medical device industries. Two of these companies, Cree Inc. and Charles & Colvard LLC, are publicly traded.

Digital inhaler startup led by Cree cofounder Eric Hunter lands $8.3M in funding

Hunter also co-founded a medical device company, Quill Medical, which was sold to Angiotech Pharmaceuticals Inc. for $200 million in 2005 and an eye care company, Corinthian Ophthalmic Inc., that was sold to Eyenovia Inc. in 2014.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but instead must file a Form D electronically with the SEC when raising funds or securities.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism

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