Uptake Medical announced that it has closed on a Series C funding round which will support commercialization of InterVapor for treatment of severe emphysema. InterVapor is the first non-surgical, endoscopic lung volume reduction system for the treatment of severe emphysema that uses the body’s natural healing processes without leaving implants or foreign materials in the lung.
The funding round was led by Singapore-based Crescent Point Group, with existing investors, Maverick Capital, ONSET Ventures, GBS Venture Partners, WRF Capital, Arboretum Ventures and Affinity Capital, making additional investments. Sami Sindi, Crescent Point managing partner, will join the Uptake medical board of directors.
The Series C financing has occurred at the end of an eventful year for Uptake Medical. The company received CE mark approval for InterVapor in September, completed the first commercial use of InterVapor in Germany in November, and recently announced TGA approval for InterVapor to be marketed in Australia.