What is Liquidia?
Headquartered in Research Triangle Park, North Carolina, Liquidia Technologies, Inc. operates as a wholly owned subsidiary of Liquidia Corporation. The company distinguishes itself through its proprietary PRINT technology, a sophisticated particle engineering platform designed to produce uniform drug particles. This technical capability is central to its mission of enhancing the safety, efficacy, and performance of various medical therapies. Currently, the firm is focused on the clinical development of two primary candidates: LIQ861, targeting pulmonary arterial hypertension (PAH), and LIQ865, aimed at the management of local post-operative pain. By maintaining worldwide commercial rights to these assets, Liquidia positions itself as a critical innovator in the life sciences landscape, bridging the gap between complex drug delivery challenges and scalable clinical solutions.
How much funding has Liquidia raised?
Liquidia has raised a total of $233M across 7 funding rounds:
Series A
$6M
Series B
$16M
Series C
$25M
Series D
$25.5M
Debt
$20.5M
Debt
$40M
Debt
$100M
Series A (2006): $6M with participation from Siemens, Next47, Wakefield Group, and Firelake Capital
Series B (2007): $16M led by Firelake Capital, New Enterprise Associates, and Wakefield Group
Series C (2010): $25M supported by Pappas Capital, New Enterprise Associates, Firelake Capital, and Canaan Partners
Series D (2018): $25.5M featuring Xeraya Capital, New Enterprise Associates, Morningside Group, and Canaan Partners
Debt (2021): $20.5M backed by Silicon Valley Bank
Debt (2022): $40M with participation from Silicon Valley Bank
Debt (2025): $100M, investors not publicly disclosed
Key Investors in Liquidia
New Enterprise Associates
Established in 1977 and headquartered in Menlo Park, California, New Enterprise Associates is a venture capital firm focused on helping entrepreneurs build businesses.
Firelake Capital
Firelake Strategic Technology Fund invests in energy technology, communications technology and materials companies, focusing on groundbreaking proprietary technology directed to large markets.
Canaan Partners
Canaan is an early-stage venture capital firm that invests in technology and healthcare companies, backing founders from seed through growth stages in areas such as biopharma and digital health.
What's next for Liquidia?
With the successful completion of this major enterprise-level funding, Liquidia is well-positioned to accelerate its late-stage clinical programs. The strategic deployment of this capital will likely focus on finalizing the regulatory pathways for its PAH and post-operative pain candidates. As the company transitions from a development-heavy model toward potential commercialization, the focus will shift to scaling manufacturing capabilities and expanding market access. Investors and stakeholders will be monitoring the firm's ability to translate its particle engineering precision into tangible clinical milestones, ensuring that the company remains at the forefront of therapeutic innovation in an increasingly competitive biopharmaceutical market.
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