Lung Diseases Treatment Company Raises $9.8 Million in Private Placement
Israel-based AIT Therapeutics Inc. will use the funding to support its ongoing clinical programs
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Established in 2011 and based in Israel with offices in New York, AIT develops nitric oxide-based treatments for lung-related conditions such as bronchiolitis and cystic fibrosis. A colorless gas, nitric oxide is also naturally produced by the body. It relaxes muscles, expands blood vessels, increases blood flow and decreases blood clotting, and is also involved in the regulation of wound healing and immune responses to infection. Several studies have suggested that the anti-microbial properties of nitric oxide are especially effective against lung infections when inhaled, but it can also be toxic in high concentrations.
Sick child (illustration). Photo: Shutterstock
AIT's device can generate nitric oxide from the surrounding air at any concentration ranging between 0.5 and 400 parts per million, at either intermittent or continuous dosing. The company states that as its system does not require large, high-pressure cylinders, it may be a possible future at-home solution for patients requiring such treatments.
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In its announcement, AIT stated it intends to use the capital raised to fund ongoing operations. The company is currently conducting a 94-patient study in Israel for the use of its technology to treat bronchiolitis, and is expecting to start a U.S. pivotal study in late 2018 as a precursor to regulatory filing with the U.S. Food and Drug Administration.
