Menlo Park, Calif. — Apreo Health, a clinical-stage medical device company developing treatments for severe emphysema, has closed an oversubscribed $130 million Series B funding round to support its lead product, the BREATHE Airway Scaffold. The financing will fund a pivotal clinical trial, regulatory efforts, and early steps toward commercialization.
The round was co-led by Bain Capital Life Sciences and Norwest, with new participation from F-Prime and Intuitive Ventures. Existing investors Lightstone Ventures and Santé Ventures also joined the round.
Proceeds from the Series B will support BREATHE-3, a multicenter, randomized controlled trial evaluating the safety and effectiveness of Apreo’s bronchoscopically delivered airway scaffold. The implant is designed to treat patients with severe emphysema by relieving lung hyperinflation and allowing trapped air to escape, a key issue in advanced stages of the disease.
“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 suffer from severe emphysema, yet fewer than 1% receive interventional treatment. Our BREATHE Scaffold offers a fundamentally different approach with potential for much broader adoption.”
Emphysema, a form of chronic obstructive pulmonary disease (COPD), is marked by lung damage that leads to difficulty breathing and reduced quality of life. Apreo’s device offers a non-surgical, minimally invasive alternative to traditional procedures and medications, aiming to expand access to care for a largely underserved patient population.
“Apreo is addressing one of the most underserved populations in COPD and doing so with clinical clarity and executional rigor,” said Zack Scott, M.D., general partner at Norwest. “The solution is elegant in design and built for scalable delivery. We’re proud to support Apreo in this next chapter.”
Nicholas Downing, M.D., Managing Director at Bain Capital Life Sciences, added, “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.”
The company plans to use the new funding to accelerate development through the BREATHE-3 trial and begin preparations for commercial entry should regulatory milestones be met.
