By Jennifer Chiou
New York, Dec. 19 - Asthmatx, Inc. announced it raised $27 million through an oversubscribed sale of series C preferred stock.
Vanguard Ventures and HBM BioCapital led investors, which included Polaris Venture Partners, MedVenture Associates and Montreux Equity Partners.
"Asthmatx has developed and clinically tested a novel technology that has the potential to substantially improve the standard of care for asthma patients," Vanguard Ventures general partner Thomas C. McConnell said in a news release.
"We are delighted to join HBM BioCapital and a very strong group of existing investors in helping Asthmatx develop this new technology that may improve the lives of millions of patients suffering with asthma."
Proceeds will go towards the company's FDA-approved Investigational Device Exemption study and for market development.
The Mountain View, Calif., medical device company has its Alair catheter-based investigational procedure, bronchial thermoplasty, for the treatment of asthma.
| Issuer: | Asthmatx, Inc.
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| Issue: | Preferred stock
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| Amount: | $27 million
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| Round: | Series C
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| Investors: | Vanguard Ventures (co-lead), HBM BioCapital (co-lead); Polaris Venture Partners, MedVenture Associates, Montreux Equity Partners
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| Announcement date: | Dec. 19
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