Pulmatrix has raised $30 million to help the Lexington biotechnology company develop treatments for respiratory illnesses, according to a release from the company.
ARCH Venture Partners, Novartis Bioventures Fund, Polaris Venture Partners, and 5AM Ventures participated in raising the Series B funds.
The Pulmatrix products now under development will fight flu and other illnesses by “harnessing the airway and lungs’ own natural biophysical properties and host defense mechanisms,’’ the release said.
Lauren Silverman, managing director of Novartis Venture Funds, and Steven Gillis, managing director of ARCH Venture Partners, have joined the Pulmatrix board.
Pulmatrix also received a $2.2 million grant from the National Institute of Allergy and Infectious Diseases to develop new treatments for flu.
