AUSTIN, Texas--(BUSINESS WIRE)--Lung Therapeutics, Inc., a pharmaceutical company focused on niche, orphan drug indications in lung injury and disease, has closed on $1,550,000 in the initial closing of its Series A Preferred Stock financing, including $550,000 in converted debt, with a remaining $1,200,000 committed to be funded upon achievement of certain milestones by Lung Therapeutics, for a total of $2,750,000. The lead investor in the round was a company formed by Dallas/Fort Worth-based Steelhead Capital Management and Bios Research.
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