On October 14, 2020 Broncus Holding Company ("Broncus"), a global leader in diagnostic and therapeutic technology for lung diseases, reported the closing of a Series C round of funding led by Lake Bleu Capital, and including Baidu Capital, the venture arm of one of the world’s largest Internet and data science companies, Ascendum Capital, CNCB Capital and DCP Capital, along with previous investor Qiming Venture Capital (Press release, Broncus Technologies, OCT 14, 2020, View Source [SID1234568486]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
The funds will be used to further develop markets and technology across lung cancer, emphysema and other important lung diseases. Efforts will include expanding global market adoption of the Archimedes Virtual Bronchoscopic Navigation System combining Fused Fluoroscopy, real-time bronchoscopy and virtual bronchoscopic navigation for 3D views and access to nodules anywhere in the lungs; expanded commercial adoption and global clinical studies of the InterVapor System for Bronchoscopic Thermal Vapor Ablation (BTVA) used in emphysema; U.S. and European studies of the EMPOWER RF Catheter used in Bronchoscopic Radiofrequency Ablation (BRFA); and further development of next-generation RF technology to precisely treat lung nodules.
Broncus CEO Zhan Guowei said, "In recent years, medical device leaders such as Medtronic and Johnson & Johnson have invested in the market development of technologies for lung disease, which validates our forward-looking vision to focus exclusively on the diagnosis and treatment of diseases in the lung. Securing investors such as Lake Bleu Capital, Baidu Capital and Intuitive Surgical further supports our strategy to ‘own’ the lung when it comes to diagnosis and treatment. Our breakthrough navigation technology is enabling us to accelerate the development and commercialization of precise interventional technologies for diagnosis and treatment in order to improve options for patients with lung diseases and the physicians that care for them."
Dr. Li Bin, founder of Lake Bleu Capital, said: "Broncus is Lake Bleu’s major investment in the medical device sector this year because they are addressing a large and unmet need globally in the diagnosis and treatment of lung diseases. Their world-leading Archimedes lung navigation technology is supported with robust data and uniquely helps physicians accurately locate and reach targeted lesions, which will open the door to new and exciting interventional lung therapies. We believe that Broncus is well positioned to lead the world in providing less invasive methods to diagnose and treat lung disease broadly."
Broncus recently announced a new strategic partnership with Olympus Europa to exclusively distribute Broncus Medical’s Archimedes Planner and Archimedes Lite Virtual Bronchoscopic Navigation (VBN) system in several European countries.
Early investors in the company include Intuitive Surgical, an early pioneer and global technology leader in minimally invasive, robotic-assisted surgery.