Albuquerque, NM – January 2, 2014 Good news for UNM’s economic development efforts to boost New Mexico’s economy was announced recently by STC start-up Respira Therapeutics. The company has received a new round of funding from two local venture capital firms, Sun Mountain Capital and Cottonwood Technology Fund, to expand its development into drug and inhaler products for the pharmaceutical industry. The company also announced that it is relocating its headquarters and technical lab to the BioScience Center in Albuquerque. Respira was formed in 2010 around dry-powder inhaler technologies developed at the University of New Mexico by former College of Pharmacy Professor Hugh Smyth. The inhaler uses an innovative bead coated with dry-powered drugs that can be inhaled into the deep lung at a rate that is 2-4 times greater than the rate of current inhalers. The inhaler’s ability to deliver more than one drug to the lung also means that complex drug formulations are not necessary. To read more about the Respira announcement, see Dan Mayfield’s December 18th article, linked below from Albuquerque Business First.
Respira reels in VC funding, relocates to BioScience Center
Source: Albuquerque Business First
For more information, contact:
Dan Mayfield
(505) 348-8308
dmayfield@bizjournals.com