Lamellar Biomedical Raises funding of £5.75 Million
Lamellar Biomedical has raised a fund of £5.75 million in a Series C equity funding round led by Invesco Asset Management Limited and supported by the Scottish Investment Bank (SIB).
Lamellar is developing a pipeline of novel patent-protected medical devices and pharmaceuticals targeting:
- Dry Eye Disease (DED) with Lamelleye
- Radiotherapy-Induced Xerostomia (RIX) with Visco-ease
- Cystic Fibrosis (CF) with Muco-ease
The raised funds will be used to:
- Support the commercialisation of both Lamelleye and Visco-ease globally through partners
- Generate clinical data with Muco-ease to position it for a potential co-development deal
- Expand Lamellar’s pipeline of LAMELLASOME based pharmaceuticals targeting indications with high unmet medical needs including infection
Lamellar Biomedical CEO, Alec McLean said that they are pleased to have closed this Series C fund raising, which will allow them to generate further significant value from their pipeline of potentially groundbreaking LAMELLASOME based products. They are running clinical trial programmes with Lamelleye and Visco-ease to demonstrate the clear benefits that they can deliver to patients with DED and RIX, respectively. Their First-in-Human study with Muco-ease in CF is expected to start in H2 this year. From these and their other IP, He was also confident that they can build a valuable pipeline of pharmaceutical products based on our unique LAMELLASOME platform.