Inhalon Biopharma was awarded a $7 million contract, under which it will conduct a Phase 1/2a study to determine whether its “muco-trapping” technology can treat COVID-19.
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The new money is in addition to the roughly $2 million raised last month, noted in a separate filing. Fifteen investors contributed to the round, which kicked off Aug. 18. The Carrboro-based firm is still seeking to raise another $725,000 million, the filing noted.
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Inhalon Biopharma, headed by associate professor Sam Lai and his team at UNC Eshelman School of Pharmacy, is developing monoclonal antibodies (mAb) using technology that enables trapping of pathogens in mucus secretions for treating diseases of the respiratory tract.
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