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February 12, 2019updated 21 Jul 2022 7:39am

Nuvaira secures funds to develop lung denervation system

US-based medical device company Nuvaira has raised fresh funds in an equity financing round led by US Venture Partners to further develop its lung denervation system for treating chronic obstructive pulmonary disease (COPD) and asthma.

US-based medical device company Nuvaira has raised fresh funds in an equity financing round led by US Venture Partners to further develop its lung denervation system for treating chronic obstructive pulmonary disease (COPD) and asthma.

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The $79m financing round was also joined by Endeavour Vision, Qiming Venture Partners, Lightstone Ventures and the Richard King Mellon Foundation.

Nuvaira’s existing investors including Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners, Versant Ventures, Vertex Venture Holdings and Windham Venture Partners also participated in the latest funding round.

Nuvaira Lung Denervation System is a catheter-based system designed to address the airway hyper-responsiveness in COPD and asthma through a procedure called Targeted Lung Denervation (TLD).

“The company intends to use the latest funds to conduct a pivotal AIRFLOW-3 clinical trial. Data from this trial are expected to support approval from the US Food and Drug Administration.”

TLD is a one-time bronchoscopic procedure that disrupts overactive nerves in the lungs in order to open up the airways for improved breathing.

The device obtained the European CE-Mark in January 2016. Its safety and feasibility were validated in IPS-I/II, AIRFLOW-1 and AIRFLOW-2 clinical trials.

Nuvaira CEO Dennis Wahr said: “We are thrilled to have such a strong consortium of top-tier investors in this financing, as a clear vote of confidence in our work and the performance of our novel catheter-based system in our Phase IIb randomised, sham-controlled trial in patients with chronic obstructive pulmonary disease (COPD) patients.”

The company intends to use the latest funds to conduct a pivotal AIRFLOW-3 clinical trial. Data from this trial are expected to support approval from the US Food and Drug Administration (FDA).

In addition, the financing will be used for a targeted clinical development strategy in select European markets.

AIRFLOW-3 trial principal investigator Frank Sciurba said: “We are encouraged by the results of the AIRFLOW-2 trial, and we see TLD potentially filling an unmet need for our COPD patients who continue to have exacerbations while on maximal guideline-based pharmacologic therapy.”

Findings from the AIRFLOW-2 trial showed a more than 50% decrease in respiratory adverse events such as COPD exacerbations and hospitalisations.

The World Health Organization has claimed that COPD could be the third leading cause of death in the world by 2030.

Last week, digital therapeutics company Kaia Health has announced that it will undertake a feasibility study to assess the effectiveness of its digital therapeutic COPD treatment in Japan’s ageing population.

Additional reporting by Charlotte Edwards. 

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IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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