Liquidia Technologies has garnered the final piece of a $25 million Series C, which will fund development of a new vaccine delivery technology. The clinical research organization PPD invested $5 million in the round, which brings Liquidia's total investments in three rounds to $49.5 million.
Liquidia, which is based in Research Triangle Park, NC, uses its PRINT technology to create nanoparticles that can be used to more precisely deliver vaccine payloads, improving the safety and efficacy of the jab. The developer has a vaccine in development that it expects to get into the clinic later this year. The same particle technology used to orchestrate adjuvants, antigens, and presentation strategies in vaccines can also be used to enhance drug delivery.
"Given PPD's broad expertise in vaccine and biologic drug development, this was a compelling opportunity for both parties," said Neal Fowler, Liquidia's CEO. PPD joined Canann Partners, New Enterprise Associates, Morningside Venture Investments, Pappas Ventures and Firelake Capital in the round.
"The vaccines market is one of the fastest growing segments in the industry, and it is an area where PPD has strong laboratory and clinical development expertise," said David L. Grange, PPD's chief executive officer.