Pulmatrix, an inhaled drug developer that had raised $65m in venture funding, will be acquired by publicly-listed Ruthigen in an all-share deal.
Pulmatrix, a US-based biotechnology company backed by pharmaceutical firm Novartis, agreed yesterday to merge with publicly-listed biopharmaceutical company Ruthigen in an all-stock deal.
Formed in 2003, Pulmatrix is developing a range of products based on iSperse, a dry powder delivery platform for inhaled medicines.
Ruthigen, which floated on Nasdaq in March 2014, is working on an anti-infective drug for surgical and trauma procedures but the merged enterprise plans to concentrate on Pulmatrix’s technology.
Pulmatrix had raised about $65m in equity…
