Holaira, Inc., a Plymouth, MN-based developer of medical devices to treat obstructive lung diseases, raised $42m in Series D funding.
The round was led by Vertex Venture Holdings with participation from Windham Venture Partners, two strategic investors and all of existing investors Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners and Versant Ventures. In conjunction with the funding, Dr. Lincoln Chee, venture partner of Vertex Venture Holdings, joined Holaira’s board of directors.
The company intends to use the funds to support the first randomized lung denervation clinical trial with a sham control.
Founded in 2008 and led by Dennis Wahr, M.D., president and chief executive officer, Holaira is a lung denervation company developing minimally invasive products to make breathing easier for patients suffering from obstructive lung diseases. The company is currently working on a novel catheter-based system that has the potential to improve lung function, exercise capacity and quality of life for patients with chronic obstructive pulmonary disease.