Moat Biotechnology Raises $6.5 Million in Funding to Develop Intranasal/Inhaled COVID-19 Vaccine

Moat Biotechnology Corporation, a biotechnology company developing intranasal/inhaled vaccines, announced today that it has raised $6.5 million in its first close of funding. The round was led by Cortado Ventures, with participation from Oklahoma Seed Capital Fund, Blue Harbour BioMed, and other undisclosed investors.

The funding will be used to advance MoatBio's lead product candidate, an intranasal/inhaled COVID-19 vaccine, into clinical trials. The company is also using the funds to build out its manufacturing and commercialization capabilities.

"We are pleased to have the support of Cortado Ventures and our other investors," said Mike Moradi, CEO of MoatBio. "This funding will allow us to accelerate the development of our intranasal/inhaled COVID-19 vaccine and bring it to market as quickly as possible."

MoatBio's intranasal/inhaled COVID-19 vaccine is designed to be more effective and easier to administer than traditional vaccines. The vaccine is delivered directly to the respiratory tract, where it can induce a strong immune response. This approach has the potential to provide better protection against COVID-19 and other respiratory viruses.

"MoatBio's intranasal/inhaled vaccine has the potential to be a game-changer in the fight against COVID-19," said Mike Moradi. "We are excited to partner with Cortado Ventures and our other investors to bring this important new vaccine to market."

About Moat Biotechnology

Moat Biotechnology Corporation is a biotechnology company developing intranasal/inhaled vaccines. The company's lead product candidate is an intranasal/inhaled COVID-19 vaccine that is currently in preclinical development. MoatBio is headquartered in Oklahoma City, Oklahoma.

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