PneumRx Raises $33M
Summary
PneumRx, Inc. , a Mountain View, California-based medical device company focused on the development and commercialization of innovative products to treat emphysema using minimally-invasive techniques, has raised $33m in capital.Silicon Valley Bank and Leader Ventures also contributed to the capital raise.The round was led by Forbion Capital Partners and co-led by Endeavour Vision , with participation from an undiscolsed prominent strategic corporate partner and existing investors, and, among others.andalso contributed to the capital raise.The company also plans to begin a pivotal clinical trial to support a PMA application in early 2011 and submit its results to be able to sell the RePneu LVRC System in the United States.In conjunction with the funding, Martien van Osch, Managing Partner at Forbion Capital Partners, and Daniel Bertholet, Investment Director at Endeavour Vision, will both join the company’s board of directors.