Pulmatrix Announces Closing of Preferred Stock Transaction as Part of Planned Merger

Pulmatrix, Inc. has successfully closed a private placement of Series B Convertible Preferred Stock, securing approximately $1 million in gross proceeds from an affiliate of Eos SENOLYTIX, Inc. This transaction, which occurred on April 21, 2026, is part of Pulmatrix's ongoing merger process with Eos. The Series B Preferred Stock is convertible into common stock at a price of $2.20 per share, providing a strategic financial avenue as the company navigates its merger plans.

Pulmatrix, headquartered in Framingham, Massachusetts, is a biopharmaceutical firm specializing in the development of innovative inhaled therapeutic products aimed at addressing significant unmet medical needs in migraine and respiratory diseases. The company utilizes its proprietary iSPERSE™ technology to enhance drug delivery, thereby improving therapeutic outcomes while minimizing systemic side effects. Pulmatrix's product pipeline includes treatments for central nervous system disorders, such as acute migraines, as well as serious lung conditions like Chronic Obstructive Pulmonary Disease (COPD) and allergic bronchopulmonary aspergillosis (ABPA).

Eos SENOLYTIX, based in Houston, Texas, focuses on developing gerotherapeutic peptide medicines that target the biological mechanisms of aging. The company’s lead candidates, PTC-2105 and PTC-2107, are designed to rejuvenate aging cells and eliminate senescent cells, addressing the systemic inflammatory effects associated with aging. The merger with Pulmatrix represents a strategic alignment of two biotechnology firms with complementary technologies and therapeutic focuses, potentially enhancing their combined capabilities in addressing age-related diseases and respiratory conditions.

The funds raised through this private placement are intended for working capital and general corporate purposes, which will support Pulmatrix as it moves forward with the merger and its ongoing research and development initiatives. The conversion feature of the Series B Preferred Stock allows investors to participate in the future growth of Pulmatrix as it transitions into a combined entity with Eos SENOLYTIX.

This transaction highlights the increasing trend of mergers and acquisitions in the biotechnology sector, particularly among companies seeking to leverage complementary technologies and expertise. As the industry continues to evolve, such strategic partnerships may provide enhanced capabilities to address complex health challenges, particularly in the realms of aging and respiratory diseases. The successful fundraising effort underscores investor confidence in the potential synergies that the merger may yield, setting the stage for future advancements in therapeutic development.