Beyond Air Inc. completed a senior secured debt financing of up to $40 million from Avenue Capital Group to support the company’s commercial launch of the Lungfit PH and further development of the Lungfit platform. Beyond Air is focused on applications of nitric oxide for the treatment of patients with a range of respiratory conditions. Its affiliate, Beyond Cancer Ltd., is developing a treatment for solid tumors that uses an ultra-high concentration of nitric oxide.
Beyond Air Inc. has entered into an agreement with Yissum Research Development Co. of the Hebrew University of Jerusalem to license the commercial rights for multiple neuronal nitric oxide synthase (nNOS) inhibitor candidates, currently being developed for the treatment of autism spectrum disorder (ASD) and other neurological conditions.
As companies scramble to develop diagnostic tests and vaccines for COVID-19, there is a need for effective treatments for patients suffering severe respiratory effects from the novel coronavirus. To that end, Beyond Air Inc., of Garden City, N.Y., and Rehovot, Israel, has applied to the U.S. FDA to conduct an IDE trial of its inhaled nitric oxide (NO) system, Lungfit Bro, in COVID-19 patients.