Friday, September 21, 2012

Innovative Pulmonary Solutions Gets $10.6M

Bellevue-based medical device developer Innovative Pulmonary Solutions has raised $10.6M in a Series B funding round, the firm announced Thursday. The funding came in March of 2012, and was led by Advanced Technology Ventures. Other investors included Versant Ventures, Split Rock Partners, and Morgenthaler Ventures. Innovative Pulmonary said that Mike Carusi of ATV joined the board with the funding, and that it has now raised a total of $19M. The funding came out through the announcement of a new President and CEO at the company, Dr. Dennis Wahr; Wahr previously served at Lutonix and Velocimed. Innovative Pulmonary is working on medical devices to treat lung diseases.