Haisco Pharmaceutical Group Co Ltd to Make a $10 Million Equity Investment in Pneuma Respiratory and Enters into a Distribution Agreement
BOONE, N.C., Aug. 13, 2018
BOONE, N.C., Aug. 13, 2018 /PRNewswire/ -- Pneuma Respiratory, Inc., which has developed PNEUMAHALER™,, the first breath-activated digital inhaler (BDI), announced that Haisco Pharmaceutical Group Co Ltd, a China-based company focused on the research and development and marketing of therapeutic drugs, has agreed to make a $10 million equity investment in Pneuma Respiratory. As part of the agreement, Haisco Pharmaceutical Group is to receive rights to distribute Pneuma Respiratory's pharmaceutical products in China. Haisco will be responsible for funding China regulatory filings.
Pneuma Respiratory, Inc. ("Pneuma") has developed the PNEUMAHALER™ Breath Actuated Digital Inhaler (BDI) to solvethe problems of existing metered dose, dry- powder, and soft-mist inhalers to improve the efficacy of currently available airway medications. PNEUMAHALER BDI ("PNEUMAHALER") is the first pulmonary inhaler to merge advanced droplet ejector technology with digitally controlled breath-actuation, and package it in a lightweight, pocket-sized device.
Pneuma's go-to-market strategy is to marry the technology of its digital platform with off-patent drugs and create more efficacious treatments for asthma and COPD. Pneuma's strategy aims to de-risk its clinical and regulatory pathway and create value by rebranding off-patent therapeutic treatments within its patented PNEUMAHALER system to improve inhaled treatments for patients in the $39+ billion global asthma + COPD market.
Eric Hunter, CEO and cofounder of Pneuma Respiratory stated "We look forward to working with Haisco to introduce Pneuma's pharmaceutical products in China. As a prominent pharmaceutical company in China, the investment is a vote of confidence in our team and our approach to improving drug effectiveness."
About Pneuma Respiratory
Launched in 2015, Pneuma Respiratory is a pharmaceutical company based in Boone, North Carolina. With a global team of researchers, physicians, designers and engineers, Pneuma has created PNEUMAHALER™, the first fully integrated digital breath activated inhaler. The inhaled delivery system has integrated Bluetooth technology to provide feedback on drug delivery to patients, family members and health care providers. Using Pneuma's [proprietary/patented] digital droplet ejector technology, Pneuma's device, although currently available for investigational purposes only, has the potential to ultimately deliver a spectrum of novel therapies, including biologics, to the lungs. For more information visit www.pneumarespiratory.com
Contact: Eve Ganley, 828-434-6433, email@example.com
View original content:http://www.prnewswire.com/news-releases/haisco-pharmaceutical-group-co-ltd-to-make-a-10-million-equity-investment-in-pneuma-respiratory-and-enters-into-a-distribution-agreement-300695638.html
SOURCE Pneuma Respiratory, Inc.