Nuvaira raises $79m to support COPD device

Respiratory device developer Nuvaira said today that it raised $79 million in a new equity financing round to support its Lung Denervation System. The Lung Denervation System is intended to treat airway hyper-responsiveness, which the Minneapolis-based company said is a pathophysiologic underpinning of both chronic obstructive pulmonary disease and asthma, through a procedure called Targeted Lung Denervation. Nuvaira said that the Lung Denervation System has been shown to be safe and feasible in three clinical studies, the last of which was presented at the European Respiratory Society conference last September. “The rigor of the Airflow-2 trial has set a high standard for the field. We are encouraged by the results of the Airflow-2 trial, and we see TLD potentially filling an unmet need for our COPD patients who continue to have exacerbations while on maximal guideline-based pharmacologic therapy,” trial investigator Dr. Frank Sciurba of Pittsburgh’s UPMC said in a prepared statement. The round was led by U.S. Venture Partners and joined by newly invested Endeavour Vision, Qiming Venture Partners, Lightstone Ventures and the Richard King Mellon Foundation as well as existing investors Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners, Versant Ventures ,Vertex Venture Holding and Windham Venture Partners. Nuvaira said that it also added Lisa Rogan as its market dev senior VP. “We are thrilled to have such a strong consortium of ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured Respiratory Wall Street Beat nuvaira Source Type: news