Background Stip (1).png

Pulmonary Embolism is a deadly and silent killer, but it doesn’t have to be.



Superb opportunity to benefit from a unique pulmonary disease detection agent, PulmoBind. PulmoBind is a unique and new product, a game-changer in its sphere of the medical imaging marketplace. It outperforms the current and "only" market provider MAA, with better imaging, more accurate diagnosis and lower risks, all with a lower cost to manufacture than the incumbent.


The company PulmoScience has successfully completed Phase I and Phase II trials. This investment will be used to complete Phase III trials, as well as commercially launch the product on the market.


Background Stip 2.png


PulmoBind will launch in the US first, as it is the largest medical market in the world. However once Phase III trial and commercialisation in the US have been completed, they will begin the process to gain approval for PulmoBind in Europe and Asia.


As there is no automatic “read-across” from approval in the US to other territories, therefore additional trials are required in these areas.


PulmoScience are committed to developing PulmoBind and have projected to spend US $57 million on R&D from year 4 to year 10.



PulmoBind is patented in;

  • USA

  • Canada

  • UK and

  • France

Patent Umbrella 2.png
Background Stip (Dark Blue).png


There are four possible exit strategies that have been considered.

  • Strategic Sale

  • Selling to a Financial Buyer

  • Initial Public Offering (IPO)

Investment Required

PulmoScience Inc. is seeking $11,000,000 USD Equity investment. This investment is part of an overall $22,000,000, of which $11,000,000 debt has been secured.



Company Value after 10 years trading

(10yr 2030)

10 year IRR

NPV (12% Discount Rate)



Return on Investment

The US $11 million investment will secure 17.5% equity stake in PulmoScience.

Detailed financials are available under NDA.


Frequently asked questions

What is Pulmonary Disease?

Pulmonary Disease is a type of disease that affects the lungs and other parts of the respiratory system. Pulmonary diseases may be caused by infection, by smoking tobacco, or by breathing in secondhand tobacco smoke, radon, asbestos, or other forms of air pollution.

Pulmonary diseases include asthma, chronic obstructive pulmonary disease (COPD), pulmonary fibrosis, pneumonia, and lung cancer. Also called lung disorder and respiratory disease.

What is Pulmonary Embolism (PE)?

Pulmonary embolism is a blockage in one of the pulmonary arteries in your lungs. In most cases, pulmonary embolism is caused by blood clots that travel to the lungs from deep veins in the legs or, rarely, from veins in other parts of the body (deep vein thrombosis).

What is Chronic thromboembolic pulmonary hypertension (CTEPH)?

Chronic thromboembolic pulmonary hypertension (CTEPH) is a condition where there is elevated blood pressure in the pulmonary arteries caused by chronic blood clots (thromboembolic), which obstruct the free flow of blood through the lungs. Normal blood vessel. (blood flows freely) CTEPH (blockage) Main pulmonary artery.

Is PE curable?

Pulmonary embolism is serious but very treatable. Quick treatment greatly reduces the chance of death. If untreated, acute PE is associated with a significant mortality rate (as high as 30%), whereas the death rate of diagnosed and treated PE is 8%. Up to 10% of acute PE patients die suddenly. Two of three patients succumbing to PE die within 2 h after presentation.

Is CTEPH curable?

Many patients with CTEPH can be cured with surgery. Pulmonary thromboendarterectomy (PEA) surgery is a complex surgical procedure performed on eligible people with CTEPH, whose PH is caused by blood clots in the lungs. For patients who can’t have surgery, there are medications and other treatments that can help reduce symptoms and provide some relief.

How many people die from PE each year?

Pulmonary Embolism is a deadly disease that has a mortality rate of 30%, it affects 600,000 and kills 200,000 annually in the US alone.

What is PulmoBind?

PulmoBind is a Patented molecular imaging agent. It is a unique and new product, a game-changer in the medical imaging marketplace.

It outperforms the current market leader with better imaging, more accurate diagnosis, and lower risks. All achieved with a lower manufacturing cost than the incumbent system.

As a commercialised product it will be supplied in a kit form. The Kit contains a blister pack of two glass phials. The first phial contains PulmoBind in the form of a white powder. The second phial contains a Buffer Solution.

How does PulmoBind work?

PulmoBind is combined with a Buffer Solution and the appropriate amount of Tc-99M from a Technetium Generator, producing the solution that can then be injected into the patient. This is a common procedure in Nuclear Medicine hospitals and clinics.

Once injected into the patient, PulmoBind travels through the bloodstream, where it links to specific receptors on the inner walls of the blood vessels in the lungs (the Pulmonary Vascular System).

Because the Tc-99M is a gamma emitter, the sites where the PulmoBind molecules have been linked to can be “seen” by a Gamma Camera (a low-cost type of Imaging machine that is available in every hospital with a Nuclear Medicine department and a large number of clinics).

This allows both 2D and 3D visualisation of the lungs vascular system as well as the diagnosis of conditions afflicting the Pulmonary Circulation.

Is PulmoBind patented?

PulmoBind is patented in the US, Canada, UK and France. The US patent lasts until 2029 and the other jurisdictions are patent protected until 2028.

All patents can be extended by 5 years. This will extend patent protection in the US until 2034, with Canada, UK and France extended until 2033.

Further protection can be extended in Europe by another 5 years by applying for Market Exclusivity, thus extending protection there until 2038.

These additional protections will be applied for once Phase III trials are completed and FDA approval granted.

Does PulmoBind have competition?

There is currently only one imaging agent currently used to diagnose lung vascular disease; Macro-Aggregates of Albumin (MAA). MAA is currently used for the diagnosis of acute pulmonary embolism (PE) and for the diagnosis of CTEPH, a form of PH.

However, MAA is unable to detect other types of vascular disease and is not capable of following the effect of PH therapy.

Is PulmoBind safe to use?

PulmoBind is safe to use compared to its only competition MAA. MAA particles block the small capillaries, about 300,000 of them, destroying the capillaries beyond the blockage. This has a serious side-effect for patients who may already have impaired lung vascular functionality and is one of the contributory reasons as to why MAA has never become a general screening product.

Contrastingly PulmoBind molecules form a smooth coating on the receptors throughout the entirety of the lung vascular system and provide dynamic imaging showing changes over time.

Therefore, clinicians only tend to prescribe an MAA scan when they believe that the benefit outweighs the risk. This will not be the case with a PulmoBind scan which has no demonstrable risk.

Is there a demand for PulmoBind?

Despite the limitations and inherent issues with MAA, there are still approximately 600,000 MAA lung scans performed annually in the USA.

PulmoScience plan to continue R&D and intend PulmoBind to become as common a diagnostic tool as a chest x-ray. They believe this market is very large and in excess of $1 billion USD per annum.

“Mordor Intelligence” have valued the global market for Nuclear Medicine Imaging as being $6.7 billion USD in 2018 and expect this to reach around $9.3 billion USD by 2024.

What advantages do PulmoBind have over its competition?

It is safer, cheaper, and dramatically better results.

How much of an impact can PulmoBind make?

PulmoBind, will become a major player in the industry, dominating the market for CTEPH diagnosis and acquiring a large share of the existing Acute PE market.

It is certain that the presence of PulmoBind in the market will also increase the number of conditions that can be diagnosed through radio-imaging techniques.

PulmoScience are convinced that PulmoBind will become the Gold Standard for CTEPH diagnosis and replace both MAA and CTPA for the diagnosis of PE, becoming the Gold Standard for this condition as well.

Furthermore, they expect that PulmoBind will become the primary diagnostic method used to rule-out pulmonary vascular disease in subjects with shortness of breath and be used to monitor the severity of PH and the on-going effect of therapy.

How big could PulmoBind become?

PulmoBind is the first in its class. It has the potential to become as ubiquitous a diagnostic method as an X-Ray and it will save lives.

Who invented PulmoBind?

Dr Jocelyn Dupuis is the inventor of the PulmoBind molecule and a highly distinguished and qualified clinician.

He is currently a Member, Clinician-Scientist Program, Université de Montréal having previously been Professeur Titulaire, Médecine, Université de Montréal.

Where is PulmoScience located?

PulmoScience Inc. is based in the Canadian city of Montreal. They currently operate out of facilities housed within the Montreal Heart Institute (MHI) at: 5000 Bélanger Street, Montreal, Quebec H1T 1C8 Canada.

How much has been invested in PulmoScience to date?

PulmoScience has received investment to date of US $6,000,000, from Pulmo BioTech Inc. Pulmo BioTech believed in the potential of PulmoBind, the quality research of its Creator Dr Dupuis and the expertise of the Montreal Heart Institute.

How will the investment funds be used?

The investment will be spent on parallel studies into the diagnosis of Acute Pulmonary Embolism (PE) and Chronic Thromboembolic Pulmonary Hypertension (CTEPH), as well as a Dosimetric Study for the Good Manufacturing Practice (GMP) Kit, which will be essential for implementing the commercial manufacture of PulmoBind.

Need more information?


This communication is directed only at professional investors and not for distribution to the general public. The information contained herewith has been issued by PulmoScience Inc. and therefore ELC cannot take any responsibility for the completeness of the information. No representation or warranty express or implied is made or given by on behalf of the company as to the accuracy and completeness or fairness of the information or opinions contained in this document and no responsibility or liability is accepted for such information or opinions or any errors, omissions, misstatements negligent or otherwise.