Halo Therapeutics raises £1.5m to bring its antiviral spray into clinical trials.
The funding round was led by the Development Bank of Wales to advance first-in-human studies.
Halo Therapeutics develops an easy-to-use respiratory antiviral spray designed to prevent coronaviruses from entering and multiplying in human cells.
Halo Therapeutics has secured £1.5m in funding to advance clinical trials for its respiratory antiviral spray targeting coronaviruses. The investment round was led by the Development Bank of Wales, with participation from Science Angel Syndicate members and the KBA Group.
Originating from research at Bristol University, the company plans to use the capital to progress its first-in-human studies. The treatment aims to stop the virus from entering nasal cells, providing a self-administered option for prevention and early intervention.
From the founder
"Vaccination and treatments have reduced the impact of the virus but it is still a significant health risk. Our self-administered and cost-effective antiviral treatment stops the virus from entering and multiplying in the nasal epithelial cells, where it can then spread to the throat and then into the lungs. It is a potential game-changer in the treatment and prevention of coronaviruses, particularly with the emergence of new viruses."
Imre Berger
Professor at Halo Therapeutics
Investor perspective
"It is encouraging to see a growing number of life sciences and medical technology companies investing in Wales. As a nation, we offer a vibrant and prosperous environment that is an attractive proposition for early-stage businesses like Halo Therapeutics as they move towards global commercialisation from a base here in Wales."
Mark Bowman
Venture Fund Manager, Development Bank of Wales
Use of funds
- 01Fund research and development
- 02Fund the next phase of growth
Investors
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About the company
Halo Therapeutics
Halo Therapeutics develops an antiviral spray treatment for coronaviruses.