RESEARCH TRIANGLE PARK, NC—Oriel Therapeutics has raised a $23 million third round led by New Leaf Ventures to use as working capital as it moves its dry powder inhaler technology forward, the Raleigh News & Observer reported Friday.

Healthcare Ventures and CHL Medical Partners and existing investors also participated in the round. Trudell Medical International’s president Mitchell Baran and Fred Eshelman of Wilmington’s PPD are also listed as investors in a regulatory filing.

Oriel raised $5 million in two previous rounds.

Founded in 2001, Oriel’s technology was developed at the University of North Carolina at Chapel Hill.

It’s patented dry powder inhaler shoots a single measured drug dose into the lungs. It has a multi-dose drug in development. The unit dose device has completed its preclinical stage and the company has actively sought collaborators to help commercialize the technology.

It is currently focused on oral delivery of drugs for asthma and COPD.

On the Web: www.orieltherapeutics.com

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