Spiro Medical Raises $67 Million Series A to Advance Neuromodulation Therapy for Asthma
Spiro Medical has secured $67 million in Series A financing to support the development of a pulmonary neuromodulation system intended to treat asthma. The Irvine, California–based company was established to advance what it describes as a first-of-its-kind neuromodulation approach targeting pulmonary pathways involved in breathing disorders.
The financing round was led by Andera Partners, Omega Funds, and Sherpa Healthcare Partners, with participation from HSG, Supernova Invest, Northern Light Venture Capital, and Hero Inc. Ltd., part of the India-based Hero Enterprise group. The investor group brings a mix of European, U.S., and Asian healthcare investment experience.
According to the company, proceeds from the round will be used to design and develop a purpose-built pulmonary neuromodulation system and to carry out the clinical studies required for regulatory approval in the United States. Spiro Medical said the program will build on existing intellectual property and early human data related to the technology.
Raymond W. Cohen, chairman of Spiro Medical’s board of directors, said the company was bringing together investors with experience in supporting novel medical technologies. “Once this novel approach comes to market, it promises to have a profound impact on patients suffering from asthma and other breathing related conditions,” he said.
As part of the transaction, Raphaël Wisniewski of Andera Partners, Claudio Nessi of Omega Funds, and Ouyang Xiangyu of Sherpa Healthcare Partners have joined Spiro Medical’s board of directors. Chief Executive Officer Rinda Sama noted that the company is starting its development program with issued patents and initial human data, adding that the team’s background in implantable neuromodulation systems positions it to advance the technology through development and clinical evaluation.
