#USA #Neuromodulation #Irvine, California #Asthma Treatment #Spiro Medical

Spiro Medical Secures $67 Million in Series A Financing

Summary
Spiro Medical, Inc., a pioneering company dedicated to creating the first-ever Pulmonary Neuromodulation System (PNM) aimed at treating asthma, recently announced it has successfully closed $67 million in Series A equity financing. The investment round saw participation from renowned venture capital firms led by Andera Partners from Paris, Omega Funds from Geneva and Boston, and Sherpa Healthcare Partners from the Cayman Islands, among others.

Investment Details
The capital raised will be utilized to develop a tailored PNM system and to carry out essential clinical work needed to gain regulatory approval in the United States. This financing marks a significant milestone for Spiro Medical, as it prepares for the development of a technology that could revolutionize asthma treatment.

Leadership Insights
Raymond W. Cohen, chairman of Spiro Medical's board of directors, expressed his enthusiasm about the caliber of investors backing the PNM technology. He stated, “I am delighted to welcome world-class venture capital investors who understand the immense potential of this PNM technology. Once this novel approach comes to market, it promises to have a profound impact on patients suffering from asthma and other breathing-related conditions.”

In addition to financial support, Spiro Medical welcomed Raphaël Wisniewski of Andera, Claudio Nessi of Omega, and Ouyang Xiangyu of Sherpa to its board, enhancing its governance with experienced leaders in the industry.

CEO Remarks
Rinda Sama, the CEO of Spiro Medical, acknowledged the invaluable contributions of their co-founder, Stephen Pyles, M.D. He said, “We believe this is a rather unique opportunity to be starting a project with issued patents and some human data which informs us about the potential for this exciting new clinical indication for neuromodulation.” He also expressed confidence in their ability to create a world-class system, leveraging the team's extensive experience in developing implantable neuromodulation technologies.

Understanding Asthma
Asthma is a prevalent chronic lung condition that affects more than 28 million Americans and approximately 300 million people worldwide. Many of its distressing symptoms, which include wheezing, shortness of breath, and chest tightness, are related to the nervous system and are influenced by improper activation or regulation of airway nerves. The novel PNM technology is designed to target these neural reflex pathways, potentially offering a new and effective treatment option for asthma patients.

About Spiro Medical
Based in Irvine, California, Spiro Medical was founded by a team of medical professionals including Stephen Pyles, M.D., Kurt Gehlsen, M.D., Ph.D., Rinda Sama, and G. Jay Jiang, Ph.D. The company is dedicated to innovating treatments for patients suffering from severe asthma through advanced neuromodulation techniques. The development of the Pulmonary Neuromodulation System represents a significant step towards addressing the complex challenges posed by asthma, promising hope for millions of affected individuals.

With this latest funding round, Spiro Medical is on the forefront of combining medical science and innovative technology, aiming to alleviate the burden of asthma and improve the quality of life for patients worldwide.