Apreo Health secures $130 Million Series B funding to advance emphysema treatment trial

Apreo Health advances emphysema device trial: ©Aailaya Landholt - stock.adobe.com

Apreo Health, a clinical-stage medical device company developing a novel therapy for severe emphysema, has raised $130 million in an oversubscribed Series B funding round, the company announced.

The round was co-led by new investors Bain Capital Life Sciences and Norwest, with participation from F-Prime and Intuitive Ventures. Returning backers Lightstone Ventures and Santé Ventures also contributed to the financing.

The funds will support Apreo’s pivotal BREATHE-3 trial, a multicenter, randomized controlled study evaluating the safety and effectiveness of the company’s BREATHE Airway Scaffold. The implantable device is delivered via bronchoscopy and designed to relieve lung hyperinflation by allowing trapped air to escape in patients suffering from severe emphysema.

The Series B investment will also help fund regulatory activities and early commercialization efforts.

“We are incredibly grateful for the support from this world-class syndicate of investors and their desire to partner to redefine the standard of care in emphysema,” said Karun Naga, CEO of Apreo Health. “More than three million Americans are affected by severe emphysema, yet fewer than 1% receive interventional treatment—a stark reflection of limitations of currently available treatments.”

Naga said the company’s BREATHE Scaffold represents a “fundamentally different approach” to treatment and has the potential for much broader adoption.

The BREATHE-3 study aims to provide clinical evidence needed to bring the implant closer to regulatory approval and broader access for patients with chronic obstructive pulmonary disease (COPD), a condition that includes emphysema.

“Apreo is addressing one of the most underserved populations in COPD and doing so with clinical clarity and executional rigor,” said Zack Scott, general partner at Norwest. “The solution is both elegant in design and built for broad, scalable delivery.”

Nicholas Downing, managing director at Bain Capital Life Sciences, called the BREATHE Scaffold “a potential step-change” in treating emphysema and said the firm is excited to partner with Apreo at this key stage in its development.

Advances in interventional treatments for emphysema reflect growing momentum

The field of interventional pulmonology has seen significant advancements in recent years, particularly in the treatment of chronic obstructive pulmonary disease and emphysema, two conditions historically managed primarily through medication and lifestyle changes. As research deepens and technology evolves, device-based interventions are emerging as promising alternatives for patients who do not respond well to traditional therapies.

Emphysema, a progressive lung condition that damages air sacs and leads to chronic breathing difficulties, has long posed a treatment challenge due to its irreversible nature. While lung volume reduction surgery and transplants are options for some, they carry considerable risks and are only suitable for a small subset of patients. In response, minimally invasive alternatives are gaining traction, offering new hope for a broader patient population.

One such innovation involves bronchoscopic implants designed to relieve hyperinflation by allowing trapped air to escape from the lungs. This approach can improve lung mechanics, reduce breathlessness, and enhance quality of life—without the need for open surgery. These therapies aim to restore better airflow and lung function with fewer complications and shorter recovery times.

Clinical trials are driving momentum, with a growing number of studies focused on novel implants, targeted airway devices, and biomarker-guided treatment strategies. These developments reflect a broader shift toward personalized and precision-based medicine in respiratory care. Regulatory bodies have also shown increasing openness to device-based interventions as clinical evidence supporting their efficacy and safety mounts.

At the same time, health care providers and payers are showing interest in the potential cost-effectiveness of these treatments. With millions affected by COPD and current treatments falling short for many, innovation in this space is not only medically necessary but also economically compelling.

As clinical-stage companies continue to secure funding and demonstrate strong trial outcomes, interventional therapies for emphysema are poised to become a new standard of care for a disease that has long lacked viable options.