Funding was received from a syndicate of premier life science industry investors, including Canaan, OrbiMed, and Hatteras Venture Partners. Proceeds from the financing will be used to advance the development of AER-01, the company's novel inhaled small molecule mucolytic drug designed to liquefy mucus plugs in the lungs of patients with chronic obstructive pulmonary disease (COPD). Aer Therapeutics plans to initiate a first-in-human Phase 1 clinical trial of AER-01 in mid-2023.

Aer Therapeutics is a clinical stage biopharmaceutical company with a mission to develop novel treatments for mucus-associated lung diseases. The company leverages the expertise of its scientific founders in airway mucus biology and pathology, medicinal glycochemistry, and inhaled pharmaceutics and the experience of its management team in drug development for lung disease. Phase 1 clinical trials of its lead drug candidate AER-01 will start in 2023 with potential to expand development into multiple other indications such as asthma, bronchiectasis and cystic fibrosis.