Tuesday, January 4, 2011

PneumRx Gets $33M

Mountain View-based PneumRx, a developer of medical devices for treating lung disease, said today that it has raised $33M in working capital commitments. According to the firm, the new funding was led by Forbion Capital Partners and Endeavour Vision, and also included prior investors Adams Street Partners, Telegraph Hill Partners, Alta Partners, and Spray Venture Partners, and others. The firm also said an un-named strategic corporate partner participated in the funding. The funding also included participation from Silicon Valley Bank and Leader Ventures. PneumRx develops a minimally invasive device that helps emphysema patients by implanting itinol coils into the lungs to compress damaged tissue. More information »