By Elaine Rigoli
Tampa, Fla., April 3 - Spiration, Inc. has raised $13.4 million in a series F round of equity funding.
The investment was led by new investor Olympus Medical Systems Corp., based in Tokyo, with significant support from returning investors Guidant Corp., New Enterprise Associates, Sprout Group (currently New Leaf Venture Partners), Versant Ventures, Three Arch Partners, InterWest Partners and Investor Growth Capital.
The financing will be used to fund clinical trials for the company's lead product, the IBV Intra-Bronchial Valve System, including a multi-center, randomized pivotal study in the United States and a multi-country study in Europe, according to a news release.
Spiration developed the IBV Valve System as a less-invasive method than surgery for achieving improvement in both health status and functions supported by the lungs in subjects with severe emphysema, the release said.
The system is an investigational device in the United States and Canada, and is CE marked for commercial distribution in Europe.
Located in Redmond, Wash., Spiration develops medical devices for the treatment of lung disease.
| Issuer: | Spiration, Inc.
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| Issue: | Series F financing
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| Amount: | $13.4 million
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| Investors: | Olympus Medical Systems Corp., Guidant Corp., New Enterprise Associates, Sprout Group (currently New Leaf Venture Partners), Versant Ventures, Three Arch Partners, InterWest Partners and Investor Growth Capital.
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| Announcement date: | April 3
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