TFF Pharmaceuticals, an early-stage developer of dry-powder therapies for lung diseases, raised $22 million by offering 4.4 million shares at $5.
The company's Thin Film Freezing, or TFF, technology platform aims to improve the solubility of drugs. One of TFF's two lead candidates targets a severe fungal pulmonary disease, and the other is part of a treatment for lung transplants. The company also plans to partner with large pharmaceuticals interested in its solubility technology.
TFF Pharmaceuticals is set to list on the Nasdaq under the symbol TFFP. National Securities acted as lead manager on the deal.
