Breath Therapeutics is a spin-out from Munich-based PARI Pharma GmbH and specialises in advanced and first-in-class inhalation therapies for severe respiratory diseases. Breath Therapeutics uses proprietary drug formulations optimised for inhaled administration with exclusively licensed, high-performance nebulisers. Its lead programme develops a first-in-class inhalation therapy against Bronchiolitis Obliterans Syndrome (BOS).