Uptake Medical Raises $17.5M in Series B Financing

Uptake Medical, a Seattle, WA-based interventional pulmonology company, has concluded its $17.5m Series B financing
The round was led new investor Maverick Capital, with participation from existing investors GBS Venture Partners, Onset Ventures, WRF Capital, Arboretum Ventures and Affinity Capital
In conjunction with the financing, Eric Kim of Maverick Capital has joined the board of directors of Uptake Medical.
The company develops medical technologies for the treatment of lung diseases including emphysema, a form of chronic obstructive pulmonary disease (COPD), primarily caused by smoking.
The core technology is a minimally invasive, bronchoscopic catheter-based procedure designed to help patients breathe more easily. The new capital will allow Uptake Medical to obtain the CE mark and introduce its proprietary Bronchoscopic Thermal Vapor Ablation (BTVA) technology outside of the U.S.
BTVA achieves lung volume reduction by delivering thermal vapor to emphysematous lung tissue which causes these areas to reduce in volume. This bronchoscopic lung volume reduction allows the remaining healthy lung to expand more fully and function more normally.
The company has also begun its approval cycle with the FDA in the U.S. 

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