By Lisa Kerner
Charlotte, N.C., Sept. 8 - AerovectRx Corp. said it completed its first round of venture funding to accelerate commercialization of its proprietary inhaled drug-delivery platform technology in a market estimated at $12 billion.
Georgia Venture Partners, Inc., Emergent Growth Fund, LLC and the Advanced Technology Development Center Seed Fund co-led the round.
The dollar amount of the funding was not disclosed.
"Our disposable and customizable drug cartridge provides a business model unique to the industry and the opportunity to open up new markets for existing drugs as well as specialty pharmaceuticals or novel therapeutics in development," company founder and chief executive officer Matthew H.J. Kim said in a news release.
AerovectRx is an early-stage aerosol therapeutic company based in Atlanta.
| Issuer: | AerovectRx Corp.
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| Issue: | Venture funding
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| Investors: | Georgia Venture Partners, Inc., Emergent Growth Fund, LLC, the Advanced Technology Development Center Seed Fund (co-led)
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| Announcement date: | Sept. 8
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