FDAnews Device Daily Bulletin

UPTAKE MEDICAL RECEIVES $9 MILLION INVESTMENT BOOST

May 9, 2006
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Uptake Medical, which develops treatment technologies for emphysema and chronic obstructive pulmonary disease (COD), has received $9 million in a Series A equity funding. New investors include Prism Venture Partners, GBS Venture Partners, Onset Ventures, Affinity Capital and WRF. Seed investor Arboretum Ventures also participated in the round, the company added.

The financing will be applied to preclinical development of Uptake's bronchoscopic lung volume reduction technology, as well as to build staff prior to clinical trials, the company said.

The company's technology is a next-generation interventional pulmonology approach to treating emphysema and is designed to measurably improve lung function and patient quality of life, the company said.