Pulmonx is a commercial-stage medical technology company focused on minimally-invasive bronchoscopic treatments for severe emphysema, centered on the Zephyr Valve System. The Zephyr Valve is placed via bronchoscopy with no incisions and has randomized-trial data showing improvements in pulmonary function, exercise capacity, breathlessness, and quality of life; it holds FDA breakthrough designation and received FDA premarket approval in June 2018. The Pulmonx solution also includes the Chartis Pulmonary Assessment System and the StratX Lung Analysis Platform to identify suitable patients. The company reports physicians in more than 25 countries have used over 76,000 valves to treat more than 19,000 patients, and Zephyr Valves are included in national and global treatment guidelines such as NICE and GOLD. Pulmonx is planning further clinical trials of AeriSeal, a foam-based bronchoscopic lung sealant for patients who cannot be treated with the Zephyr Valve. To support continued commercial expansion and R&D, Pulmonx announced a $66 million financing and secured an additional $17 million in growth capital to refinance existing debt. Pulmonx develops diagnostic and therapeutic pulmonary device technologies, with its core product the Zephyr® Valve for bronchoscopic lung volume reduction in severe emphysema/COPD. The Zephyr Valve is placed in a single bronchoscopic procedure with no incision and has been shown to improve quality of life, reduce shortness of breath, and increase activity. The device received expedited FDA approval as a breakthrough technology and is included in emphysema treatment guidelines from organizations such as GOLD and NICE. Since 2007, more than 15,000 patients have been treated with the Zephyr Valve worldwide. Pulmonx says it is well-positioned to lead the emerging global field of interventional pulmonology, and recent hires are intended to strengthen strategic and operational capabilities. Financially, the company has just closed an oversubscribed $65 million equity financing to support its growth. Pulmonx is a Redwood City, California and Neuchatel, Switzerland-based developer of minimally invasive medical devices and technologies for the diagnosis and treatment of pulmonary disorders. Led by interim CEO Oern Stuge, M.D., the company develops and markets the Chartis System and the Zephyr endobronchial valve (EBV), a diagnostic and therapeutic solution for emphysema-induced hyperinflation. The Zephyr therapy involves bronchoscopic placement of one-way valves to reduce hyperinflation in diseased portions of the lungs, thereby improving function of healthier lung regions. The Zephyr device received the CE Mark in 2003 and is in an investigational phase in the United States. Pulmonx closed a $20M senior secured term loan with Oxford Finance and intends to use the proceeds to support the U.S. clinical trial of its Zephyr EBV and to expand its business worldwide. Pulmonx develops and markets minimally-invasive devices for diagnosing and treating pulmonary disorders, including the Zephyr Endobronchial Valve (EBV) and the Chartis Pulmonary Assessment System. The company recently secured a $32M equity financing to support its next stage of growth. Both the Zephyr EBV and the Chartis system are CE marked and cleared for sale in Europe and other major international markets. Pulmonx plans to use the proceeds to support the international commercial launch of those products. The financing will also fund expansion of its commercial operations with the goal of reaching positive cash flow and profitability. In conjunction with the round, two investors will join the board of directors to support commercialization efforts. Pulmonx develops medical devices to treat emphysema by inserting a valve into the lung to shut off the diseased portion. The company is using the recent financing to create and advance its emphysema treatment devices. Pulmonx is based in Palo Alto, California, and was founded in 1998. It has previously raised $27 million. The latest financing consists of $3 million in convertible promissory notes. Investors in this round have not been disclosed.

Total raised

$223M

Funding rounds

7

Latest round

Equity

Latest activity

May 2020