Plymouth-based Holaira Secures $42 Million Venture Financing Round.
A developer of medical devices that treats obstructive lung diseases, named Holaira, has recently announced the ending of its series D private equity financing, gaining a total amount of $42 million led by Vertex Venture Holding. Other joining participants for this financing round includes, Windham Ventures partners, two strategic investors, and all of Holaira’s previously existing venture investors, such as Morgentahler Ventures, Versant Ventures, Advanced Technology Ventures and Split Rock Ventures. The proceeds acquired from this funding round shall be used to support the first randomized lung denervation clinical trail with a sham control.
Holaira has been working on a novel catheter-based system for a procedure called Targeted Lung Denervation (TLD), that has the potential to allow breathing to be far easier for patients with chronic obstruct pulmonary disease (COPD).
COPD is one of the leading, yet as of recognized, causes of morbidity and mortality. It is distinguished by a persistent airflow limitation due to a progressive narrowing of the airways interfering with regular breathing, resulting in shortness of breath, wheezing, tighten chest, and productive coughing. Globally, up to 190 million people have COPD with more that 15 million Adults being diagnosed with it in the US alone.
“Until now, COPD patients have had few options for managing their symptoms,” said Dr. Lincoln Chee, venture partner of Vertex Venture Holdings. “We believe that Holaira’s proprietary technology enables a fundamental advance in COPD treatment. We anticipate that this simple bronchoscopic treatment will provide lasting lung function improvement by opening obstructed airways.”
“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,” said Dennis Wahr, M.D., president and chief executive officer of Holaira. “After completion of multiple animal studies and two human feasibility trials, we are ready to initiate the first randomized clinical trial with a sham control for targeted lung denervation therapy.”
“As an early investor in Holaira, we are very pleased to welcome firms of the quality of Vertex Venture Holdings and Windham Venture Partners,” said Hank Plain of Morgenthaler Ventures. “This new coalition further validates the significant opportunities ahead for Holaira.”
Along with this recent financing milestone, Dr.Wahr announced the recent addition of Dr,Chee to Holaira’s Board of Directors. Dr.Chee will serve along side, Mark Deem of The Foundry, Hank Plain of Morgenthaler Ventures,Dave Stassen of Spilt Rock Partners, Mike Carusi of Advanced Technology Ventures, Kirk Nielsen of Versant Ventures and Dr.Whar