Airway Therapeutics Closes $6.3M in Finance Round

Financing furthers Company’s efforts to improve outcomes for very
premature infants

CINCINNATI–(BUSINESS WIRE)–Airway Therapeutics, a biotechnology company focused on developing new
interventions for acute and chronic lung diseases, beginning with
premature infants, has secured $6.3 million in bridge financing from new
and existing investors. Cincinnati Children’s Hospital Medical Center,
CincyTech and Queen City Angels are among the previous investors
participating in this round.

The financing comes as Airway Therapeutics reports significant progress
with the development of its lead product AT-100, a recombinant form of
human surfactant protein D (rhSP-D). AT-100 is a first-in-class product
with blockbuster market potential and is believed to have a critical
impact by preventing Bronchopulmonary Dysplasia (BPD). BPD is an arrest
in lung development that results from ventilator-induced inflammatory
damage to the pre-term lung. Approximately 160,000 pre-term babies in
the US and Europe are at risk each year and it has a 49% mortality rate.

“The proceeds from this finance round will allow Airway Therapeutics to
continue its successful path to the manufacturing of AT-100 for use in
humans,” says CEO, Marc Salzberg, MD. “This is an exciting time for the
Company as we continue to execute on plan towards our goals of
IND-acceptance and clinical proof of concept in BPD as well as use in
other lung conditions.”

To guide Airway Therapeutics through the manufacturing process of this
protein, the Company has engaged Paul V. Remsen as Vice President of
Manufacturing. Paul brings 20 years of technical expertise from his
senior level roles at Genzyme, MedImmune, Amgen, and Regeneron
Pharmaceuticals.

In addition to the Company’s strong patent protection, it has received
orphan designation status for AT -100 in BPD in the US and European
Union, which provides, among other incentives, a 7 and 12 year market
exclusivity.

ABOUT AIRWAY THERAPEUTICS

Airway Therapeutics is a biotechnology company in Sharonville, Ohio,
that is developing a unique protein replacement therapy to prevent and
treat lung disease in the most vulnerable patients, beginning with
premature born infants.

For more information about Airway Therapeutics, please contact Sandra
Roberts at roberts@airwaytherapeutics.com.

Contacts

Airway Therapeutics
Sandra Roberts
roberts@airwaytherapeutics.com