Ally Bridge Group (ABG), a global life science investment group, has led an over-subscribed $65m financing of Pulmonx, a US-based diagnostic and therapeutic pulmonary device technologies provider.
Pulmonx develops life-changing technologies to improve the lives of patients suffering from COPD. Its key product Zephyr Valve, is the first minimally-invasive device approved by the US FDA for treating patients with severe emphysema, a progressive and life-threatening form of COPD.
In addition, since 2007, more than 15,000 patients have been treated with the Zephyr Valve worldwide, and is approved and marketed in the US, Europe, Australia, and Asia, including China.
The company said that the treatment using Zephyr Valve is included in emphysema treatment guidelines issued by leading health organizations across the world, including the Global Initiative for Chronic Obstructive Lung Disease (GOLD) and the UK’s National Institute for Health and Care Excellence (NICE).
Ally Bridge Group founder CEO and CIO Frank Yu said: “ABG is excited to support Pulmonx for its commercialization effort in the US and further revenue growth globally. We are impressed by the company’s leading position and best-in-class team in interventional pulmonology globally.”
ABG claims that Pulmonx marks the latest example of its focus on investing in advanced technologies run by best-in-class management teams.
Pulmonx president and chief executive officer Glen French said: “We are excited to partner with ABG, which has a strong track record of investing in successful medtech companies. The completion of this financing enables Pulmonx to accelerate our commercial efforts to deliver our technology to the more than one million patients around the world with severe emphysema.”
Furthermore, ABG’s investment in Pulmonx is followed by a series of recent new or follow-on investments in Axonics, Vapotherm, OrthoPediatrics, Shockwave Medical, and Silk Road Medical, each of which is the commercial-stage leading innovator in its respective therapeutic area.
Based in Redwood City, California, and Neuchâtel, Switzerland, Pulmonx is a global player in interventional pulmonology diagnostics, planning tools, and treatments for obstructive lung disease.