Airway Therapeutics has closed a $50 million equity financing to support late-stage development of zelpultide alfa, its recombinant human surfactant protein D therapy being studied to prevent bronchopulmonary dysplasia in very preterm infants.
The financing consists of $26 million previously raised through a SAFE and an additional $24 million Series E-2 round.
Approximately 94% of Airway’s existing investors participated in the Series E-2 financing.
Participants included Cincinnati Children’s and a syndicate of family offices.
Proceeds will primarily support completion of the Phase 2b portion of Airway’s ongoing Phase 2b/3 trial as well as chemistry, manufacturing and controls activities and analytical work required to advance the program toward a potential biologics license application.
Airway expects an interim analysis marking completion of the Phase 2b portion of the study by the end of the second quarter of 2027.
Zelpultide alfa is engineered to reproduce the structure and biological function of native surfactant protein D.
The therapy is designed around three mechanisms: regulating immune responses to reduce excessive inflammation, improving recognition and clearance of pathogens and maintaining surfactant homeostasis to support pulmonary function.
Its lead indication is prevention of bronchopulmonary dysplasia, which Airway said currently has no approved preventive therapies.
The Phase 2b/3 program follows a Phase 1b study that demonstrated a favorable safety and tolerability profile.
KEY QUOTES:
“With this round, we are well positioned to maintain momentum across our late-stage clinical program as we evaluate zelpultide alfa for the prevention of BPD in very preterm infants, a population with significant unmet medical need and no approved preventive therapies.”
Marc Salzberg, MD, Chairman And CEO Of Airway Therapeutics
“The proceeds provide us with the capital to support the clinical study as well as the CMC and BLA readiness analytical work necessary to advance zelpultide alfa through late-stage development in a disciplined and efficient manner.”
Alan S. Wolk, CFO And COO Of Airway Therapeutics
