Pulmatrix has raised $14 million in a series B1 venture capital financing. All existing venture investors, including Polaris Venture Partners, 5AM Ventures, Arch Venture Partners and Novartis Venture Fund, participated in the funding round.

The clinical stage biotechnology company will use the proceeds to grow its lead iCALM drug candidate PUR118. The latest round brings the total venture capital raised by Pulmatrix to $60 million.

Click here for the release from Pulmatrix.