Chinese medical technology company Broncus, which focuses on lung diseases, has closed Series C funding round led by Lake Bleu Capital.

The round was joined by investors, including Baidu Capital, Ascendum Capital, CNCB Capital, and DCP Capital, as well as existing investor Qiming Venture Capital.

Broncus plans to use the new investment to accelerate the development of its diagnostic and therapeutic technology across lung cancer, emphysema and other lung diseases.

The company will also use the funds to expand global market adoption of the Archimedes Virtual Bronchoscopic Navigation System, which improves access to solitary pulmonary nodules (SPNs).

The system offers real-time virtual bronchoscopic navigation with embedded intraprocedural fused-fluoroscopic guidance, providing a 3D view and access to nodules anywhere in the lung.

It will enable Broncus to enhance the commercial adoption and global clinical studies of the InterVapor System for Bronchoscopic Thermal Vapor Ablation (BTVA) used in emphysema.

In addition, the funds will also support the US and European studies of the EMPOWER RF Catheter used in Bronchoscopic Radiofrequency Ablation (BRFA), as well as further development of RF technology for the treatment of lung nodules.

Broncus CEO Zhan Guowei said: “In recent years, medical device leaders such as Medtronic and Johnson & Johnson have invested in the market development of technologies for lung disease, which validates our forward-looking vision to focus exclusively on the diagnosis and treatment of diseases in the lung.

“Our breakthrough navigation technology is enabling us to accelerate the development and commercialisation of precise interventional technologies for diagnosis and treatment in order to improve options for patients with lung diseases and the physicians that care for them.”

Lake Bleu Capital founder Dr Li Bin added: “Broncus is Lake Bleu’s major investment in the medical device sector this year because they are addressing a large and unmet need globally in the diagnosis and treatment of lung diseases.

“Their world-leading Archimedes lung navigation technology is supported with robust data and uniquely helps physicians accurately locate and reach targeted lesions, which will open the door to new and exciting interventional lung therapies.”

In a separate development, Thermo Fisher Scientific has announced plans to develop two new sterile filling lines in Singapore.

The $130m facility will help the company in expanding its capacity in the Asia-Pacific region for the development and manufacturing of therapies and vaccines.