Apreo Health, a clinical-stage medical device company developing a novel treatment for severe emphysema, has announced the closing of an oversubscribed $130 million Series B financing round.
The financing was co-led by new investors Bain Capital Life Sciences and Norwest, with participation from new investors F-Prime and Intuitive Ventures. Returning investors Lightstone Ventures and Santé Ventures also participated in the round.
The Series B financing will primarily support BREATHE-3, a multicentre, randomised controlled trial designed to evaluate the safety and efficacy of the Apreo BREATHE Airway Scaffold.
The bronchoscopically delivered implant is designed to relieve lung hyperinflation by releasing trapped air in patients with severe emphysema.
Additionally, the Series B financing will fund regulatory activities related to BREATHE-3 and early commercialisation efforts to demonstrate strong market potential.
Karun Naga, CEO of Apreo Health, said: “We are incredibly grateful for the support from this world-class syndicate of investors and their desire to partner to redefine the standard of care in emphysema,
“More than three million Americans are affected by severe emphysema, yet fewer than 1 per cent receive interventional treatment—a stark reflection of limitations of currently available treatments.
“Our BREATHE Scaffold offers a fundamentally different approach: a novel implant designed to gently release air trapped in affected lungs, with potential for much broader adoption.
“This financing marks a significant milestone that enables us to complete a robustly designed pivotal trial and continue advancing toward expanded access for this severely underserved population.”
Chronic obstructive pulmonary disease (COPD) is the fourth leading cause of death and the eighth leading cause of poor health worldwide, according to the World Health Organization (WHO).
The US Centers for Disease Control and Prevention (CDC) estimates that nearly 16 million Americans have been diagnosed with COPD, with millions more undiagnosed.
Emphysema, a severe form of COPD characterised by the destruction of lung air sacs, affects approximately three million people in the US and is a leading contributor to COPD-related disability and mortality.
Today, fewer than 1 per cent of patients with emphysema-related hyperinflation receive interventional care.
Zack Scott, M.D., general partner, Norwest, said: “Apreo is addressing one of the most underserved populations in chronic obstructive pulmonary disease (COPD) and doing so with clinical clarity and executional rigor.
“This is a step-change in how we approach emphysema care. The solution is both elegant in design and built for broad, scalable delivery.”
