Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Broncus Technologies, a medical device company, has closed a $38 million round of series G funding, led by a $25 million investment from Ares Life Sciences, a Switzerland-based private equity fund.
Subscribe to our email newsletter
Almost all existing investors are participating in this round, including Abingworth, Bio One/Singapore, Charter Ventures, HBM BioVentures, JAIC America, Menlo Ventures, Pac-Link Ventures, Saints Capital and Sightline Ventures. Beat Merz from Ares Life Sciences will join Broncus’s board.
Broncus is currently conducting the Ease trial, a pivotal randomized, double-blind clinical trial to study the safety and effectiveness of the airway bypass procedure. The objective is to seek pre-market approval by the FDA in 2010 as a class III implantable device.
Broncus has randomized 240 patients in the Ease trial to date at 40 clinical sites around the world. The procedure initially is being studied in patients with homogeneous emphysema whose only treatment options today are medical management and lung transplantation, both of which have significant limitations.
Cary Cole, president and CEO of Broncus, said: We are delighted to add Ares Life Sciences to our group of investors. With this round of funding, we will be able to complete our pivotal Ease trial for emphysema and start commercialization activities for our emphysema and lung cancer products.