tN_87266_25th anniv logoLung Therapeutics announced Wednesday it has joined the the Austin Technology Incubator, part of the IC2 Institute at the University of Texas at Austin.
Lung Therapeutics joins ATI’s Bio/Health Sciences Portfolio.
“Lung Therapeutics Inc.’s lead drug candidate, LT1-01, will allow for effective fluid drainage of the lung cavity, a rare consequence of hospitalized pneumonia, without the need for surgery,” according to a news release. “The company has been awarded more than $12 million in NIH funding toward the development and IND-enabling studies of the lead candidate, as well as a seed investment from the UT Horizon Fund, a strategic venture fund of the University of Texas System.”
“Lung Therapeutics is unique as a pharmaceutical startup. The team has a wealth of experience in the respiratory disease field and the company has removed much of the technology risk by funding advanced translational research and manufacturing with substantial federal dollars. We are very pleased to admit them into the ATI portfolio,” Cindy WalkerPeach, PhD, Director, Bio/Health Sciences Portfolio at ATI, said in a news release.