Holaira said it raised a $42 million Series D round it plans to use for what it claims as the 1st randomized lung denervation trial with a sham control arm.
Minneapolis-based Holaira said the round was led by Vertex Venture Holdings and included 2 unnamed strategic investors, Windham Venture Partners and existing backers Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners and Versant Ventures.
The company, formerly called Innovative Pulmonary Solutions, is developing a catheter-based device for targeted lung denervation in patients with chronic obstructive pulmonary disease, according to a press release.
"This financing signals a strong endorsement from the investment community for our product development progress and support for our upcoming clinical trials for the Holaira lung denervation system," president & CEO Dr. Dennis Wahr said in prepared remarks. "After completion of multiple animal studies and 2 human feasibility trials, we are ready to initiate the first randomized clinical trial with a sham control for targeted lung denervation therapy."