Medical device company Holaira said it drummed up $10 million, changed its name and moved its headquarters.
Formerly known as Innovative Pulmonary Solutions, Holaira said it plans to use the Series C round to develop its minimally invasive devices to treat obstructive lung disease. All of Holaira’s existing backers participated, namely Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners, and Versant Ventures.
"The completion of this financing signals continued confidence in the direction of our program to develop a system to enable a minimally invasive bronchoscopic treatment for COPD," president & CEO Dr. Dennis Wahr said in prepared remarks. "Our board of directors remains unchanged and I’m pleased that Mike Carusi of Advanced Technology Ventures, Mark Deem of The Foundry, Kirk Nielsen of Versant Ventures, Hank Plain of Morgenthaler Ventures, and Dave Stassen of Spilt Rock Partners will serve alongside me."
Holaira is developing a targeted lung denervation system to treat chronic obstructive pulmonary disease. The company also said it moved its headquarters to Minneapolis, setting the stage for "the next level of product development and our future clinical trials," Wahr said.
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