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news.Spiration has raised $18.5 million in a series G round of equity funding from existing investors.
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Versant Ventures led the financing and Olympus Medical Systems, New Enterprise Associates, New Leaf Venture Partners (Sprout Group), InterWest Partners, Investor Growth Capital and Three Arch Partners also returned as investors. With this financing, the total investment in Spiration is $97 million.
Proceeds from this round will be used to support commercialization of the company’s IBV Valve System in Europe and to complete clinical work to support regulatory approval and the US launch of the product. The IBV Valve System is a minimally invasive technology that has diverse applications in both acute and chronic conditions of the lung. The device is currently under investigation in the US as a new treatment option for patients with severe emphysema.
Rick Shea, president and CEO of Spiration, said: “We are pleased that this investment will continue to advance our mission of providing a higher quality of life to people with lung disease through novel therapies.”