COPD & Emphysema Support Group
COPD is a progressive disease characterized by airflow obstruction or limitation. Emphysema is characterized by loss of elasticity of the lung tissue, destruction of structures supporting the alveoli and of capillaries feeding the alveoli. Both have symptoms that include shortness of breath, among other respiratory troubles. If you are a COPD or Emphysema sufferer, join...
Published: Monday, January 9, 2012
By Uptake Medical
Uptake Medical Announces Successful Completion of Series C Financing
Funding Will Support Commercialization of InterVapor for Treatment of Severe Emphysema
TUSTIN, Calif., Jan. 9, 2012 -- /PRNewswire/ -- Uptake Medical today announced that it has closed on a Series C funding round. The round was led by Singapore-based Crescent Point Group, with existing investors, Maverick Capital, ONSET Ventures, GBS Venture Partners, WRF Capital, Arboretum Ventures and Affinity Capital, making additional investments. Sami Sindi, Crescent Point managing partner, will join the Uptake Medical board of directors. Moelis & Company acted as financial advisor to the company in connection with the funding.
R. King Nelson, president and chief executive officer of Uptake Medical, commented, "Finalizing this very successful round of financing represents another positive step for Uptake Medical. We are thrilled with the addition of Crescent Point to our board and we are equally pleased that our current investors remain committed to Uptake Medical as we continue the commercialization of InterVapor."
The Series C financing has occurred at the end of an eventful year for Uptake Medical. The company received CE mark approval for its first product, InterVapor, in September, completed the first commercial use of InterVapor in Germany in November, and recently announced TGA approval for InterVapor to be marketed in Australia. InterVapor is the first non-surgical, endoscopic lung volume reduction system for the treatment of severe emphysema that uses the body's natural healing processes without leaving implants or foreign materials in the lung.
"Uptake Medical's technology offers a new opportunity to address the needs of millions of patients around the world with severe emphysema," commented Crescent Point's Sami Sindi. "I look forward to working with the Uptake Medical team in successfully furthering their commercial initiatives."
Scott Huennekens, president and chief executive officer of Volcano Corporation and Uptake Medical board member, added, "Uptake Medical has a strong leadership team, solid clinical data and is now executing on its commercial strategies. The company is well positioned to establish InterVapor as the standard of care for lung volume reduction."
About Emphysema/COPD
The global incidence of Chronic Obstructive Pulmonary Disease (COPD), which includes emphysema, is on the rise and will become the third leading cause of death by 2030. In the U.S., where nearly 5 million people are diagnosed with emphysema, it already holds this position with one person dying every four minutes from COPD. Debilitating and costly, nearly $50 billion was spent addressing the direct and indirect costs associated with COPD in the U.S. in 2010.
About Uptake Medical
Uptake Medical is focused on the development and commercialization of innovative, non-surgical treatments for lung diseases. InterVapor is the first and only approach to endoscopic lung volume reduction for people with severe emphysema that uses the body's natural healing process without leaving any implants or foreign materials in the lung. In clinical studies, InterVapor has demonstrated clinically meaningful improvements in breathing function, exercise capacity and quality of life. With headquarters in Tustin, Calif., Uptake Medical received the CE mark and TGA approval to commercialize InterVapor. More information can be found at www.uptakemedical.com.
Uptake Medical and InterVapor are registered trademarks and trademarks of Uptake Medical.
SOURCE Uptake Medical
Read more here: http://www.sacbee.com/2012/01/09/4173187/uptake-medical-announces-successful.html#storylink=cpy
Easy Breathing to all,
Holly
By Uptake Medical
Uptake Medical Announces Successful Completion of Series C Financing
Funding Will Support Commercialization of InterVapor for Treatment of Severe Emphysema
TUSTIN, Calif., Jan. 9, 2012 -- /PRNewswire/ -- Uptake Medical today announced that it has closed on a Series C funding round. The round was led by Singapore-based Crescent Point Group, with existing investors, Maverick Capital, ONSET Ventures, GBS Venture Partners, WRF Capital, Arboretum Ventures and Affinity Capital, making additional investments. Sami Sindi, Crescent Point managing partner, will join the Uptake Medical board of directors. Moelis & Company acted as financial advisor to the company in connection with the funding.
R. King Nelson, president and chief executive officer of Uptake Medical, commented, "Finalizing this very successful round of financing represents another positive step for Uptake Medical. We are thrilled with the addition of Crescent Point to our board and we are equally pleased that our current investors remain committed to Uptake Medical as we continue the commercialization of InterVapor."
The Series C financing has occurred at the end of an eventful year for Uptake Medical. The company received CE mark approval for its first product, InterVapor, in September, completed the first commercial use of InterVapor in Germany in November, and recently announced TGA approval for InterVapor to be marketed in Australia. InterVapor is the first non-surgical, endoscopic lung volume reduction system for the treatment of severe emphysema that uses the body's natural healing processes without leaving implants or foreign materials in the lung.
"Uptake Medical's technology offers a new opportunity to address the needs of millions of patients around the world with severe emphysema," commented Crescent Point's Sami Sindi. "I look forward to working with the Uptake Medical team in successfully furthering their commercial initiatives."
Scott Huennekens, president and chief executive officer of Volcano Corporation and Uptake Medical board member, added, "Uptake Medical has a strong leadership team, solid clinical data and is now executing on its commercial strategies. The company is well positioned to establish InterVapor as the standard of care for lung volume reduction."
About Emphysema/COPD
The global incidence of Chronic Obstructive Pulmonary Disease (COPD), which includes emphysema, is on the rise and will become the third leading cause of death by 2030. In the U.S., where nearly 5 million people are diagnosed with emphysema, it already holds this position with one person dying every four minutes from COPD. Debilitating and costly, nearly $50 billion was spent addressing the direct and indirect costs associated with COPD in the U.S. in 2010.
About Uptake Medical
Uptake Medical is focused on the development and commercialization of innovative, non-surgical treatments for lung diseases. InterVapor is the first and only approach to endoscopic lung volume reduction for people with severe emphysema that uses the body's natural healing process without leaving any implants or foreign materials in the lung. In clinical studies, InterVapor has demonstrated clinically meaningful improvements in breathing function, exercise capacity and quality of life. With headquarters in Tustin, Calif., Uptake Medical received the CE mark and TGA approval to commercialize InterVapor. More information can be found at www.uptakemedical.com.
Uptake Medical and InterVapor are registered trademarks and trademarks of Uptake Medical.
SOURCE Uptake Medical
Read more here: http://www.sacbee.com/2012/01/09/4173187/uptake-medical-announces-successful.html#storylink=cpy
Easy Breathing to all,
Holly
That would mean that in 2010, per person Ten thousand was spent in the US.
5 million people divided into 50 million dollars= 10 thousand per person in 2010.
That's if my math is right, and I think it is... if my math is wrong please let me know:)
When you look at it that way it doesn't seem that much.
Hope this helps, and if I got this wrong please let me know...
Love
Holly
Remodeling the airways is not a new thought so maybe this treatment is one that will actually become available in the future.
In any event, it causes one to think about the possibilities and being proactive about this disease is one of our most important tools.
Thanks Holly, Enjoyed reading and looking up more articles about this procedure.
Per NJ Quitnet, who tracks my "savings", among other things, in those 3 years I have saved $16,425.00, or I should say, had all that "extra" money to spend on something else, like, pulmo docs, lung scans and x-rays, lung meds, etal. Oh, and I can't forget the medical bills I have to pay that are not covered by Medicare and Medigap BC/BS. plus the premiums I pay for both!
Now, if I could only get my wife to quit! We would have an extra $5600.00 per year to spend on other things. She has smoked for at least forty years, 2 packs a day. The big difference .... her lungs are perfectly fine! That fact gets me pissed! I don't want to see her, or anyone for that matter, going through what I am!
Yet, she sees what kind of hell I'm living on a daily basis, her father died of "severe" emphysema, and she continues to smoke!
Her "argument" is that I didn't "get sick" until 13 months after I quit. No matter what anyone says to her, she continues to smoke :.(
I apologize for venting. Jim
It will be interesting to follow the advancement of the non surgical lung treatments.
Thanks again Holly, you do find some good articles for sharing.