Pulmatrix, Inc.

We are a biopharmaceutical company focused on developing new inhaled therapeutic products for migraine and respiratory diseases. Our patented iSPERSE™ technology is used to create treatments for central nervous system (CNS) disorders like acute migraine, and serious lung diseases such as Chronic Obstructive Pulmonary Disease (COPD) and allergic bronchopulmonary aspergillosis (ABPA). Our product candidates utilize our proprietary engineered dry powder delivery platform, iSPERSE™, which aims to improve drug delivery to the lungs by optimizing how the body processes the drug and reducing side effects. This technology allows for the delivery of small or large molecule drugs to the lungs for local or systemic applications. The iSPERSE™ powders are designed as small, dense particles that disperse efficiently and deliver effectively to airways. These powders can be used with various dry powder inhaler technologies and formulated with a wide range of drug substances, including small molecules and biologics. We believe iSPERSE™ dry powder technology offers improved drug loading and delivery efficiency compared to traditional lactose-blend inhaled dry powder therapies. We were incorporated in 2013 as a Delaware corporation. On November 13, 2024, we entered into an Agreement and Plan of Merger and Reorganization, amended on April 7, 2025, to merge our wholly owned subsidiary, PCL Merger Sub, Inc., with Cullgen Inc. Cullgen will survive as our wholly owned subsidiary.