DPI developer TFF Pharmaceuticals said that is has raised $8.17 million through a Series A preferred stock offering and that it will use the funds for R&D. In April 2018, the company announced that it had raised $14 million for development of inhaled drugs, also through a Series A preferred stock offering.
In the past year, TFF has received patents in the US and Europe for its DPI particle technology, which is licensed from the University of Texas at Austin. The company says that it has more than 30 patents and applications related to the thin film freezing technology.
TFF CEO Glenn Mattes commented, “We are grateful to our investors for their continued support of our groundbreaking efforts to create new treatments of pulmonary diseases and conditions, like lung transplant, severe asthma, COPD and pulmonary infections,”
The company also announced the appointments of Kirk Coleman as Chief Financial Officer and Randy Thurman as a board member and chairman of the audit committee. Coleman, who was most recently an executive officer of Steelhead Capital Management, said, “I am very excited to be working with TFF Pharmaceuticals. The company’s breakthrough technology, strong foundation, seasoned leadership and loyal investors have brought them rapid progress and early success. I look forward to contributing even more to that success.”
Thurman, who was Founder, Chairman and CEO of VIASYS Healthcare and President of Rorer Pharmaceuticals and Rhone-Polenc Rorer, commented, “I look forward to lending my industry experience to TFF Pharmaceuticals in order to continue their growth trajectory and make a positive impact on their progress.”
Read the TFF Pharmaceuticals press release.
