Pulmonx Secures $66M in Financing to Support Commercial Acceleration of the Zephyr Valve System, a Minimally-Invasive Treatment for Severe Emphysema
Summary
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Pulmonx Corporation, a commercial-stage medical technology company that provides a minimally-invasive treatment for patients with severe emphysema, announces a $66 million financing led by Ally Bridge Group, a leading global life science investor. Proceeds from this financing will ensure that Pulmonx is well-capitalized to support the continued global commercial expansion of the Zephyr Valve System, the first FDA-approved minimally-invasive treatment option for severe emphysema, a form of COPD. Emphysema is a debilitating and life-threatening disease that progressively destroys lung tissue, resulting in a diminishing ability to breathe and engage in the most basic daily activities, leading to further deconditioning and to a high mortality rate. Ally Bridge Group (“ABG”), founded and led by Frank Yu (previously at Goldman Sachs and Och-Ziff Capital), is a global healthcare investment firm focused on supporting the world’s most innovative life science technologies benefiting many millions of human lives and leading high-impact transactions, primarily in the U.S. For more information, please visit www.ally-bridge.com. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.