pulmonx

Pulmonx (Nasdaq:LUNG) announced today that it treated the first patient in a pivotal trial evaluating its AeriSeal system.

The CONVERT II evaluates AeriSeal in limiting collateral ventilation in severe chronic obstructive pulmonary disease (COPD)/emphysema patients. Pulmonx received a staged FDA investigational device exemption (IDE) to conduct this trial late last year.

Collateral ventilation occurs when openings appear in the lung fissures or walls between the lung lobes. Pulmonx designed AeriSeal to occlude these naturally occurring openings in a lobe targeted for bronchoscopic lung volume reduction (BLVR) and block collateral ventilation. AeriSeal foam blocks gaps in lung fissures to allow patients to benefit from eventual valve treatment.

If successful, AeriSeal treatment leads to treatment with the commercially available Pulmonx Zephyr valves. Placed via bronchoscopy, the minimally invasive valves block off a diseased portion of the lung. They aim …

Pulmonx last week filed a registration statement signaling its intent to raise $86 million in an IPO after withdrawing it earlier this year.

Redwood City, Calif.-based Pulmonx filed the $86 million IPO in February but withdrew it in May after raising $66 million in a private financing round.

Terms for pricing were not disclosed in the filing, which listed BofA Securities, Morgan Stanley, Stifel, Wells Fargo Securities and Canaccord Genuity as the joint bookrunners for the offering. Pulmonx plans to list on the Nasdaq market under the “LUNG” ticker.

Proceeds from Pulmonx’s last financing round were earmarked for the global commercial expansion efforts for the Zephyr Valve system for severe emphysema, a form of chronic obstructive pulmonary disease (COPD).

The Zephyr Valve system is an FDA-approved minimally invasive treatment option. Its treatment is performed through a bronchoscopy with no incision or tissue resection.