Olswang advises two new VC clients on Series B investment round in British biotech Pulmocide

This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.

International technology, media and telecoms law firm Olswang has advised venture capital firms SR One Ltd and Longwood Fund III LP for the first time, on their Series B round of investment of Pulmocide Limited, a biotech developing two treatments for deadly viral and fungal lung infections.

The $30 million (£24 million) cash injection is Pulmocide's second, having already secured $17 million in an initial fundraising round. In addition to SR One and Longwood Fund, the fresh funds come from Pulmocide's existing backers including venture capital firm SV Life Sciences, J&J DC, the venture capital arm of Johnson & Johnson, Touchstone Innovations and F-prime, the venture capital arm of Fidelity.

Olswang Corporate Partner Niall McAlister commented: "It was a pleasure to advise SR One and Longwood Fund III on their investment in Pulmocide. This significant investment follows Pulmocide's strong track record of clinical success and these monies will go a long way to developing two critical treatments currently being developed – one for babies with Respiratory Syncytial Virus and the other for fungal infection Aspergillosis."

Niall McAlister led the transaction along with IP Partner and Head of Life Sciences Robert Stephen, Corporate Senior Associate Kate Blumhof, IP Associate Hemma Lad, Share Schemes Legal Director Catherine Merry and Trainee Alex Lowe.

Read more about Olswang’s international legal practice on the firm’s website.