Goodwin Procter advised Jeito Capital with a team including Sophie McGrath (Picture – Corporate M&A).
Jeito Capital, a rapidly emerging independent Private Equity firm dedicated to biotech and biopharma, announced that it has led an oversubscribed $92million Series C financing round in Pulmocide, a late-stage biopharmaceutical company developing novel therapies for patients suffering from serious acute and chronic respiratory diseases. Jeito led the financing round in a high-quality syndicate with new investors Adjuvant Capital and Asahi Kasei Pharma, together with participation from existing investors, SV Health Investors, SR One, IP2IPO, F-Prime Capital, Johnson & Johnson Innovation – JJDC Inc., and Longwood Capital. Sabine Dandiguian, Managing Partner at Jeito Capital, will join Pulmocide’s Board of Directors.
Proceeds from the financing will be primarily used to advance Pulmocide’s lead asset PC945 for the treatment of Invasive Pulmonary Aspergillosis (IPA), through a Phase III registration program in patients who have failed prior therapy. The financing will also help fund the planning and development of the Company’s commercial operations for PC945 starting with the US and Europe, and begin exploring the use of the compound in other clinical, chronic indications.
PC945, is a potent, novel inhaled triazole antifungal being developed for the treatment of Invasive Pulmonary Aspergillosis, a disease associated with high mortality and morbidity. Designed specifically for inhalation, PC945’s pharmaceutical properties enable high lung retention, with little uptake into the systemic circulation, ensuring delivery of a high concentration of the drug directly to the site of infection.
The Goodwin team was led by Sophie McGrath (Picture) and included Kenny Walker-Durrant and Matthew Shelley.
Law Firms: Goodwin Procter;
Clients: Jeito Capital;