DUBLIN – Breath Therapeutics Holding BV raised €43.5 million (US$46 million) in a series A round – Europe's largest so far this year – to undertake phase III trials of a drug-device combo, comprising a nebulizer-delivered, liposome-based formulation of cyclosporine A, in lung transplant patients with bronchiolitis obliterans syndrome (BOS), a chronic progressive airway inflammation that has a major impact on survival rates.