Kiwi crowdfunding with Snowball Effect: Breathe Easy

11046981_805837519503352_5603731006243784692_oBreathe Easy is a Kiwi company that is developing an inhaled medicine called Citramel™ for the treatment of cystic fibrosis, and is currently raising funds for Phase I/IIa clinical trials through equity crowdfunding platform Snowball Effect.

Citramel™ is being developed as a core therapy to improve lung function and to potentially enhance the effectiveness of other inhaled cystic fibrosis therapies such as antibiotics. Cystic fibrosis is a genetic life-threatening disorder that primarily affects the respiratory and digestive systems of those with the disorder, with an estimated 75,000 people affected worldwide.

Brent Ogilvie, Director of Breathe Easy, says the opportunity for the public to make small investments into this is unique.

“Our partnership with Snowball Effect means that people can invest amounts appropriate for them into this opportunity. Breathe Easy offers high potential financial and social returns for those who want to make a difference. With this of course comes high risk, but the potential to join a New Zealand driven team committed to combating cystic fibrosis has real appeal.”

Citramel™ addresses an estimated US$1 billion market and has been developed by Professor Bob Elliott, inventor and founder whose research also started Living Cell Technologies (ASX:LCT) and Somnaceutics (start-up to exit in 3 years).

Breathe Easy CEO, Andrea Miller, says the development of Citramel is an important milestone for medical innovation in New Zealand.

“It is exciting to be developing and manufacturing a new medicine from New Zealand. This is a wholly Kiwi enterprise, driven by people with first hand experience with cystic fibrosis. Now we can open up the opportunity to everyday Kiwis to invest in something that can make a big difference to tens of thousands of people globally.”

Citramel may also have the potential to treat other respiratory diseases such as chronic obstructive pulmonary disease, which affects 320 million people worldwide.

Breathe Easy is seeking $2 million, of which it has already raised over $1 million from the NZ angel investor community, Pacific Channel, and the New Zealand Venture Investment Fund. Breathe Easy now seeks to raise up to $700,000 through Snowball Effect. This makes it New Zealand’s first wholesale investor / equity crowdfunding co-investment opportunity. The funds will be used to conduct certain activities, principally an approved Phase I/IIa (an early stage trial that tests both safety and efficacy in humans) clinical trial of Citramel™ in New Zealand in healthy volunteers and those with cystic fibrosis.

The offer closes on 18 April or earlier if fully funded –