Thursday, December 4, 2014

PneumRx Acquired By BTG plc For $475M

Mountain View-based PneumRx said today that it has agreed to be acquired by BTG Plc, in a deal worth up to $475M. The developer of a minimally invasive, medical device to treat emphysema, said the deal is split between $230M upfront plus $245M in earn out. PneumRx was founded by Erin McGurk, and was venture backed by Alta Partners, Spray Venture Partners, KBL Healthcare Ventures (M. Krauss), Telegraph Hill Partners, Adams Street Partners, Forbion Capital Partners, Endeavour Vision and Silicon Valley Bank. PneumRx was advised by J.P. Morgan Securities LLC and Wilson Sonsini Goodrich & Rosati in the deal.