Apreo Health, a clinical-stage medical device company focused on a novel treatment for severe emphysema, today announced the successful closing of an oversubscribed $130 million Series B financing round. The round was co-led by new investors Bain Capital Life Sciences and Norwest, with additional participation from new investors F-Prime and Intuitive Ventures, alongside returning investors Lightstone Ventures and Santé Ventures.
The Series B financing will primarily support BREATHE-3 (Bronchoscopic RElease of Air Trapped in Hyperinflated Emphysematous Lung—Study 3), a multicenter, randomized controlled trial designed to evaluate the safety and efficacy of the Apreo BREATHE Airway Scaffold, a bronchoscopically delivered implant designed to relieve lung hyperinflation by releasing trapped air in patients with severe emphysema. Additionally, the Series B financing will fund regulatory activities related to BREATHE-3 and early commercialization efforts to demonstrate strong market potential.
“We are incredibly grateful for the support from this world-class syndicate of investors and their desire to partner to redefine the standard of care in emphysema,” said Karun Naga, CEO of Apreo Health. “More than three million Americans are affected by severe emphysema, yet fewer than 1% receive interventional treatment—a stark reflection of limitations of currently available treatments. Our BREATHE Scaffold offers a fundamentally different approach: a novel implant designed to gently release air trapped in affected lungs, with potential for much broader adoption. This financing marks a significant milestone that enables us to complete a robustly designed pivotal trial and continue advancing toward expanded access for this severely underserved population.”
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“Apreo is addressing one of the most underserved populations in chronic obstructive pulmonary disease (COPD) and doing so with clinical clarity and executional rigor,” said Zack Scott, M.D., general partner, Norwest. “This is a step-change in how we approach emphysema care. The solution is both elegant in design and built for broad, scalable delivery. We’re proud to support Apreo in this next chapter.”
“We are excited to partner with Apreo at this key inflection point in the company’s evolution as it advances the BREATHE Airway Scaffold into late-stage development,” said Nicholas Downing, M.D., a Managing Director at Bain Capital Life Sciences. “The device has the potential to deliver meaningful clinical benefit to a broader patient population—addressing the significant unmet need that exists today in chronic obstructive pulmonary disease.”
