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Very preterm neonates whose lungs are not fully developed are intubated and ventilated to allow breathing, but the mechanical ventilation and oxygenation can cause lung inflammation and infection, resulting in the arrest of lung development and ultimately BPD.
"Consequently, these premature babies suffer from short- and long-term respiratory and neurodevelopmental issues," said Dr. Salzberg. "There are currently no approved treatments for BPD, and AT-100 has the potential to reduce the incidence and severity of BPD, reduce the amount of time of intubation and intensive care, and ultimately improve the survival and life of these vulnerable patients."
As many as 160,000 preterm babies are at high risk to develop BPD each year in the U.S. and Europe. Babies with BPD have higher mortality and those that survive suffer from lifelong chronic consequences. Management of the disease costs an estimated $2 billion annually in the U.S. alone.
AT-100's anti-inflammatory and anti-infective properties also make it a potential treatment for other respiratory diseases such as influenza, RSV, cystic fibrosis, asthma and COPD. Funding from the Series C financing will enable Airway to further develop its preclinical package for influenza, RSV and cystic fibrosis in preparation for additional clinical trials in 2021.
In addition to the financing, Airway announced recent hires of Mr. Alan S. Wolk as Chief Financial and Operating Officer and Mr. Uday Patel as Vice President of Regulatory Affairs and Quality. Mr. Wolk has more than 30 years of finance and general management experience with DuPont and Invista, a subsidiary of Koch Industries, while also serving as a finance instructor at the University of Georgia's Terry College of Business. Mr. Patel has more than 25 years of experience covering all aspects of biopharmaceutical clinical development, including program management, clinical operations, regulatory affairs, analytical development and quality. He holds a bachelor's degree in Biochemistry from Suffolk University and a Master's degree in Biology from Harvard University. Source:
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