Greater Cincinnati biotech firm raises $15.5M

Sharonville biotechnology company Airway Therapeutics has raised another $15.5 million to help develop a drug to prevent and treat serious respiratory and inflammatory diseases.

Airway Therapeutics said it had closed an oversubscribed Series C financing round. The company was created in 2011 as a spin-out of Cincinnati Children’s Hospital, which is an investor in the company.

“We are pleased to have the strong support of our existing investor base and the new investors for the round,” said John Rice, chair of Airway Therapeutics and managing director of CincyTech.

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Story excerpt provided by Cincinnati Business Courier.

Written by Barrett J. Brunsman.

Originally published January 8, 2020.