PneumRx is a Mountain View, California-based medical device company focused on development and commercialization of minimally invasive products to treat emphysema. Its core product is the PneumRx RePneu Lung Volume Reduction Coil (LVRC) System, which bronchoscopically implants Nitinol coils to compress damaged tissue and restore elastic recoil. The company has begun selling the RePneu LVRC System in Europe and recently established a subsidiary, PneumRx GmbH, in Germany. PneumRx intends to use the funds to support European sales and to begin a pivotal clinical trial to support a PMA application in early 2011. It plans to submit trial results to enable sales of the RePneu LVRC System in the United States. The company raised $33m in capital in the reported financing to fund these efforts. PneumRx develops diagnostic and therapeutic medical devices for lung cancer and chronic obstructive pulmonary disease (emphysema). Its core products include PneuSeal, an adhesive sealant currently in clinical trials in Germany to evaluate safety and effectiveness for reducing pneumothorax complications after lung biopsy. The company is also developing a minimally invasive lung volume reduction device for emphysema that it says has demonstrated quantitative improvements in lung function. PneumRx plans to commence clinical trials on the lung-volume-reduction device later this year. The company raised $27 million in a Series B to complete clinical trials and prepare for commercialization of these two major devices. Investors in the round included Adams Street Partners, Telegraph Hill Partners, Sage Venture Partners and existing backers such as Alta Partners, KBL Healthcare Ventures and Spray Venture Partners.

Total raised

$60M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2011