Lung Therapeutics Inc., an Austin-based pharmaceutical startup, has $1.69 million more to pump into the development of a drug that could help people afflicted with pneumonia.Dr. Steven Idell, the company’s chief scientific officer, received a National Institutes of Health grant to develop drug candidate LTI-01. The money will be disbursed over three years.
LTI-01 aims to maximize scar removal around the lungs, promoting fluid drainage while minimizing bleeding risk for pneumonia patients. The…