Apreo Health Secures $130 Million for Pivotal Trial and Early Commercialization of Airway Scaffold for Severe Emphysema

Apreo Health has closed a $130 million Series B financing round to advance its pivotal trial and early commercialization of the BREATHE Airway Scaffold for severe emphysema. The financing was co-led by Bain Capital Life Sciences and Norwest, with participation from F-Prime and Intuitive Ventures. The funds will support the BREATHE-3 trial and early commercialization efforts.

Apreo Health, a clinical-stage medical device company, has announced the closing of an oversubscribed $130 million Series B financing round. The funding was co-led by Bain Capital Life Sciences and Norwest, with participation from F-Prime and Intuitive Ventures. The funds will primarily support the BREATHE-3 trial and early commercialization efforts for the company's breakthrough airway scaffold designed to treat severe emphysema [2].

The Series B financing will support the BREATHE-3 (Bronchoscopic RElease of Air Trapped in Hyperinflated Emphysematous Lung—Study 3) trial, a multicenter, randomized controlled study evaluating the safety and efficacy of the Apreo BREATHE Airway Scaffold. The device, granted U.S. Food and Drug Administration (FDA) Breakthrough Device Designation in May 2024, is designed to relieve lung hyperinflation by releasing trapped air in patients with severe emphysema [2].

Apreo Health CEO Karun Naga expressed gratitude for the support from the syndicate of investors, stating, "More than three million Americans are affected by severe emphysema, yet fewer than 1% receive interventional treatment. Our BREATHE Scaffold offers a fundamentally different approach to address this unmet need" [2].

The funding will also support regulatory activities related to the BREATHE-3 trial and early commercialization efforts to demonstrate the device's market potential. The company aims to expand access to this severely underserved population [2].

Apreo Health is backed by top-tier investors and is redefining interventional pulmonology with a non-destructive, tissue-sparing solution for severe emphysema. The company's mission is to transform the treatment pathway for patients with severe emphysema [2].

References:
[1] https://www.reuters.com/business/healthcare-pharmaceuticals/bain-capital-backed-heartflow-eyes-15-billion-valuation-upsized-us-ipo-2025-08-06/
[2] https://www.businesswire.com/news/home/20250807550956/en/Apreo-Health-Closes-%24130-Million-Series-B-Financing-to-Advance-Pivotal-Trial-and-Early-Commercialization-of-Breakthrough-Airway-Scaffold-for-Severe-Emphysema