BOONE — Pneuma Respiratory Inc., a Boone-based pharmaceutical company, has raised $4.5 million in an equity sale.

The company has raised $4,582,643 of its total goal of $4,999,906. In March, the company raised $494,123 from four investors.Executives filed the Form D on April 18. The filing did not disclose how the company intends to use the money.

Pneuma Respiratory

Pneuma Respiratory was founded in 2015 and primarily focuses on creating therapeutic treatments for diseases of the lungs using a digital-first platform for inhaled drug delivery.

The company is working to improve the potential effectiveness of currently available and novel drugs, with the initial targets being approved therapeutics for asthma and chronic obstructive pulmonary disease.

Eric Hunter is the CEO of Pneuma Respiratory. Hunter 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.

Hunter previously 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.

Boone pharma startup looking to raise $5M

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their 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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