APT Pharma secures $32.3M financing

APT Pharmaceuticals, a US specialty drug development company focused on inhaled treatments for serious lung diseases, has announced the completion of a $32.3 million series B financing. This was led by Three Arch Partners and joined by additional new investors InterWest Partners and Pinnacle Ventures. Existing investors Charter Life Sciences, Great Point Partners, Versant Ventures and Vivo Ventures also participated in the round.

The proceeds will be used to complete APT's pivotal Phase III program evaluating the safety and efficacy of cyclosporine inhalation solution following lung transplantation. The financing will also fund further development of the company's pipeline programs in serious lung diseases. "We are impressed by APT's approach to lowering risk by studying proprietary formulations of well understood drugs and focusing on serious lung diseases," said Bill Harrington, a partner with Three Arch Partners. "With strong Phase II data and a robust Phase III study ongoing, the inhaled cyclosporine program has the potential to change the practice of lung transplantation in the near future," he added.