Nuvaira, a developer of novel therapeutic medical devices to treat obstructive lung diseases, is developing the Nuvaira Lung Denervation System to address chronic lung diseases by treating the overactive airway nerves with Targeted Lung Denervation (TLD). Nuvaira’s Lung Denervation System is a novel catheter-based medical device, which has the potential to fill a large and unmet need for COPD and Athsma patients and deliver permanent and sustained improvements in breathing and lung function.
In February 2019, Vertex Growth invested in Nuvaira’s $79 million equity financing round, alongside new investors such as U.S. Venture Partners, Endeavour Vision, Qiming Venture Partners, Lightstone Ventures and Richard King Mellon Foundation and the existing investors who made further follow-on investment in the company (e.g. Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners, Versant Ventures, Vertex Ventures HC and Windham Venture Partners). This fundraising round comes after the company completed its Phase 2b trial.
Nuvaira is the first interventional pulmonary company to pursue and report one-year randomized, double-blinded and sham-controlled clinical evidence in chronic obstructive pulmonary disease (COPD) patients from a Phase 2b trial. Nuvaira’s proprietary technology has demonstrated safety and feasibility in three clinical studies: IPS-I/II, AIRFLOW-1, and, most recently, the AIRFLOW-2 sham controlled randomized clinical trial, which was presented at the European Respiratory Society conference in September 2018. The funds raised will be used to support the pivotal AIRFLOW-3 clinical trial for FDA approval, and to implement a targeted clinical development strategy in key European markets.
For more details, please see the company’s press release at the following link: http://www.nuvaira.com/nuvaira-announces-a-79-million-financing-round-to-pursue-groundbreaking-treatment-of-copd/