Spiration Raises Funds to Support Commercialization in Europe, Clinical Trials in U.S.

Redmond WA-based Spiration, developer of the IBV Valve System (IBV), has raised $18.5 million in a series G round of equity funding led by existing investor Versant Ventures. Spiration has raised $97 million since 1999.

IBV was developed as a treatment alternative for emphysema patients who do not respond to standard treatments or who are not eligible for invasive surgery such as lung volume reduction or lung transplantation. IBV may also be used to resolve prolonged air leaks that may occur following lung surgery.

For the treatment of emphysema, IBV is designed to redirect airflow from diseased portions of the lung to healthier areas. During the minimally invasive procedure, a catheter is passed through a bronchoscope to deploy small umbrella-shaped valves into the airways of the upper lobes of the lungs.

IBV is currently under investigation in the U.S. as a treatment option for patients with severe emphysema. In Europe, the system has received a CE Mark for the treatment of diseased and damaged lung, an indication that includes the treatment of emphysema and prolonged air leaks.

The $18.5 million will be used to commercialize the System in Europe and to complete clinical work to support regulatory approval in the U.S.
Testing will take at least a couple of years. “The [$18.5 million] is going to take us through that exercise,” said Richard Shea, Spiration’s CEO.

The comments are closed.