Pulmatrix Receives $2.2 Million from NIH/NIAID to Develop Novel Inhaled Influenza Therapeutics

--Novel Drugs Harness Body`s Own Defense Mechanisms to Treat and Prevent Flu
Infection--
LEXINGTON, Mass.--(Business Wire)--
Pulmatrix, a clinical stage biotechnology company discovering and developing a
new class of therapies for the treatment and prevention of infectious and
progressive respiratory diseases, today announced that it has been awarded a
grant for $2.2 million from the National Institute of Allergy and Infectious
Diseases (NIAID), a component of the National Institutes of Health (NIH), aimed
at advancing the development of novel influenza therapeutics for the treatment
of seasonal and pandemic influenza.

Pulmatrix`s proprietary technology for treating influenza was identified as one
of the most promising new approaches to support NIAID`s Strategic Plan for
Biodefense Research, which emphasizes the development of broad spectrum
therapeutics to address high priority infectious agents. The award will support
ongoing preclinical studies to extend the spectrum and efficacy of PUR003, a
Pulmatrix drug compound, and advance next generation formulations to
IND-enabling toxicology studies. Pulmatrix is currently evaluating PUR003 in a
randomized, double-blind, placebo-controlled Phase 1b/2a clinical trial designed
to demonstrate its effectiveness, safety and tolerability in an experimental
influenza infection model in healthy volunteers. Results from this clinical
trial are expected by the end of the year.

In preclinical studies, Pulmatrix therapies have demonstrated significant
efficacy in the treatment and prophylaxis of influenza across multiple strains
and in multiple animal species, including improvement of clinical signs and lung
pathology following infection with a seasonal H1N1 strain in swine.

"This award validates that our novel inhaled therapies- which have the unique
ability to treat and prevent a broad range of infections from different airborne
viruses, bacteria or `bugs` - represent a promising approach to address
respiratory diseases in a fundamentally new way. Pulmatrix`s technology is
attractive because of its unique ability to enhance the airway and lungs own
natural biophysical properties and host defense mechanisms, in a
pathogen-independent manner. Thus, single product formulations may have the
ability to address multiple infectious agents, including different strains of
influenza as well as a wide range of other respiratory diseases," said Robert
Connelly, Chief Executive Officer of Pulmatrix. "Pulmatrix has made significant
progress with our product pipeline, including ongoing and planned clinical
trials in influenza and other respiratory diseases."

About PUR003

PUR003 is designed to treat, prevent, and reduce transmission of a broad
spectrum of respiratory pathogens that pose community and public health risks.
Pulmatrix is advancing PUR003 in multiple clinical studies to demonstrate its
utility in the treatment and prevention of respiratory infections including
influenza and in the reduction of acute exacerbations of progressive respiratory
diseases, including asthma, and COPD. In a Phase 1 double-blind,
placebo-controlled, randomized, escalating-dose study designed to evaluate the
safety and tolerability of inhaled PUR003, the drug was found to be well
tolerated at all doses.

About Influenza

Influenza, commonly known as 'flu', affects large sections of the world's
population each year. The disease is characterized by annual winter outbreaks,
which often reach epidemic proportions due to the fact that the virus can mutate
quickly, often producing new strains each year against which human beings do not
have immunity. Typical symptoms of flu are usually relatively mild but can
become life threatening in vulnerable patient groups, such as the elderly and
immunodeficient individuals. In a growing number of countries, small children
have been added to the list of preferred protection groups. Transmission of the
flu virus occurs through airborne particles and upon infection, the incubation
period ranges from one to three days. As in the current pandemic of H1N1
influenza of swine origin, young healthy individuals who have not had previous
exposure to the virus can also develop serious or even life-threatening
infections.

Each year approximately 5%-15% of the world's population contracts influenza and
an estimated 250,000 to 500,000 people die annually from influenza-associated
complications according to the World Health Organization. In addition to these
annual epidemics, a major genetic shift in the influenza virus can occasionally
lead to a deadly new virus strain to which the human population does not have
immunity, resulting in a global pandemic. Three flu pandemics have occurred in
the previous century: 'Spanish influenza' in 1918, which caused an estimated 40
to 50 million deaths worldwide, 'Asian influenza' in 1957, which caused an
estimated 2 million deaths, and 'Hong Kong influenza' in 1968, which caused
approximately 1 million deaths.

About Pulmatrix

Pulmatrix is discovering and developing a new class of host-targeted therapies
that treat and prevent a broad range of infectious and progressive respiratory
diseases by harnessing the airway and lungs own natural biophysical properties
and host defense mechanisms. Pulmatrix`s innovative technology is
pathogen-independent so it has broad potential to treat a wide range of
respiratory diseases, including respiratory infections such as influenza,
ventilator acquired pneumonia (VAP) and respiratory syncytial virus (RSV), as
well as progressive respiratory diseases such as COPD, asthma, and cystic
fibrosis. The Pulmatrix technology is based on the ground-breaking scientific
work of renowned Harvard Professor David Edwards and Pulmatrix scientists, and
is financed by leading life science investors Polaris Venture Partners, 5AM
Ventures, ARCH Venture Partners, and the Novartis Venture Funds. For additional
information about the Company, please visit http://www.pulmatrix.com.

Yates Public Relations
Adriana Jenkins, 617-744-1713

Copyright Business Wire 2009