Respiratory medicines business Prosonix has announced the completion of an £11.4 million Series B financing round led by Paris-based Ventech.

Additional support came from new investor Gilde Healthcare Partners, a growth capital firm focused on private healthcare technologies and services, based in the Netherlands.

Existing investors Entrepreneurs Fund, Quest for Growth and Solon Ventures also provided backing.

David Hipkiss, CEO of Prosonix, says, ‘These new funds will allow us to attain key performance and clinical data for our pipeline of advanced fast-to-market respiratory programs that will deliver significant added value and benefits to patients and payors alike.’

The company’s particle engineering technology enables the development of novel and generic mono and combination respiratory medicines available as metered dose and dry powder inhalers.

Prosonix has traditionally commercialised its technology by partnering with originator, speciality, device and generic pharma companies.

As part of the financing, Edwin de Graaf from Gilde Healthcare Partners, and Karl Nagler of Ventech will join the Prosonix board.

Venture capital firm Ventech invests in businesses in the IT and life sciences sectors and currently has over €360 million (£324 million) under management.

Gilde Healthcare Partners is actively looking to lead new investments in therapeutics, diagnostics, medical devices and services, and invests up to €15 million (£13.5 million) in a single portfolio company.