Pappas Capital Announces the Passing of…

Research Triangle Park, NC – April 20, 2010 – Liquidia Technologies, a privately held biopharmaceutical company developing particle‐based vaccines and therapeutics, today announced it has completed a $20 million round of Series C financing. Canaan Partners led the Series C round, which also included Pappas Ventures and Morningside Venture Investments Limited as new investors. Previous investors, including New Enterprise Associates and Firelake Capital, also participated in the financing round. The funds will be used to accelerate Liquidia’s lead vaccine candidate through initial clinical evaluation and expand development of particle‐based solutions for siRNA delivery and inhaled therapeutics.