Healthcare Industry News: Amgen
News Release - March 26, 2008
Breathe Technologies, Inc. Closes on $15 Million in Venture Funding Led by Kleiner Perkins Caufield & ByersFREMONT, Calif., March 26 (HSMN NewsFeed) -- Breathe Technologies, Inc., which is developing innovative, patient-friendly medical devices to treat respiratory problems associated with Chronic Obstructive Pulmonary Disease (COPD), cystic fibrosis, and influenza announced today that it has closed on $15 million in its second round of venture funding. The investment was led by Kleiner Perkins Caufield & Byers (KPCB) with participation from existing venture investors, including Synergy Partners International, Delphi Ventures and Life Science Angels.
"Breathe Technologies is developing unique, transformational technologies for patients with emphysema, chronic bronchitis and other respiratory ailments," said KPCB partner Beth Seidenberg, M.D., who joined the company's board of directors and was also formerly the Chief Medical Officer of Amgen. "More broadly, innovation in ventilator technology is crucial to help prepare our nation for potential pandemics such as influenza or other infectious agents. We believe Breathe Technologies has the potential to address these significant unmet needs."
Breathe Technologies is developing a unique family of compact, ultra-lightweight, ambulatory respiratory ventilator systems for the hospital, homecare and pandemic markets. Annual worldwide sales of conventional respiratory systems that the company's products could enhance or replace are estimated at more than $2 billion.
"Our goal is to improve the quality of life for people suffering from breathing disorders while reducing the high mortality rates associated with respiratory diseases," said Gregory J. Kapust, President and CEO of the company. "KPCB has a remarkable track record of partnering with companies that change industries and reshape markets. Our vision is to become the first provider of ultra-lightweight, truly patient-friendly ventilator systems that can transform respiratory care in the hospital and home."
Breathe Technologies, Inc., is located in Fremont, California. It was co-founded in January 2005 by medical industry veteran Gregory J. Kapust, Lutz Freitag, M.D., Chief of one of the world's largest pulmonary hospitals located in Hemer, Germany, and Spencer J. Volk, former CEO of several Fortune 500 companies. The company is focused on developing innovative medical technologies for treating respiratory diseases such as COPD, cystic fibrosis and influenza. Breathe Technologies' offerings include durable, ultra-lightweight, ambulatory ventilator systems intended to improve the quality of life and mortality of patients with respiratory disorders.
Source: Breathe Technologies
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