Saturday, 20 July 2019

ABG leads Pulmonx's $65 million financing

10 May 2019 | News

Pulmonx is the latest example of ABG's focus on investing in cutting-edge technologies run by best-in-class management teams

Ally Bridge Group ("ABG"), a leading global life science investment group, announced that it led an over-subscribed $65 million financing of Pulmonx Corporation, a global leader in diagnostic and therapeutic pulmonary device technologies with its key product approved and marketed in the US, Europe, Australia, and Asia, including China.

Pulmonx is focused on developing life-changing technologies that improve the lives of patients suffering from COPD. The company's key product, Zephyr Valve, is the first minimally-invasive device approved by the US FDA for treating patients with severe emphysema, a progressive and life-threatening form of COPD.

Since 2007 more than 15,000 patients have been treated with the Zephyr Valve worldwide.The Zephyr Valve treatment is included in emphysema treatment guidelines issued by leading health organizations worldwide, including the Global Initiative for Chronic Obstructive Lung Disease (GOLD) and the UK's National Institute for Health and Care Excellence (NICE).

Pulmonx is the latest example of ABG's focus on investing in cutting-edge technologies run by best-in-class management teams. ABG's investment in Pulmonx follows a series of recent new or follow-on investments in Axonics (NASDAQ: AXNX), Vapotherm (NASDAQ: VAPO), OrthoPediatrics (NASDAQ: KIDS), Shockwave Medical (NASDAQ: SWAV), and Silk Road Medical (NASDAQ: SILK), each of which is the commercial-stage leading innovator in its respective therapeutic area.

"Ally Bridge Group, in addition to its strong biotech effort, is actively involved in what we see as a renaissance of the US medtech sector where more and more truly innovative technologies are proven to effectively address significant unmet medical needs, achieve commercially success, and, in turn, rewarded by the capital and M&A markets. Our strong commitment to medtech investing across the private and public markets, our M&A knowhow and cross-border value-add differentiate ABG as a leading medtech investor," said Frank Yu.

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