UNC Spin-Off Company Receives $26.5M Commitment - UNC Eshelman School of Pharmacy

Divisions Faculty Industry Pharmacoengineering and Molecular Pharmaceutics,

Grayson Mendenhall
November 16, 2007

Oriel Therapeutics, an inhaled drug-delivery company cofounded by UNC School of Pharmacy professor Anthony Hickey, PhD, has received a $26.5 million commitment from a group of venture capital firms.

The commitment comes from a group led by New Leaf Partners, a New York venture capital firm. The money will fund the company’s development of drugs that use its patented dry-powder inhaler technology, which was developed at the School.

Based in Research Triangle Park, Oriel was founded in 2001 and holds four U.S. patents. It began as a company that develops inhalers for use with other companies’ medicine, but has since started developing its own drugs.
Media reports about the venture financing: