A Midtown-based medical device startup is carving a niche in the growing field of treatments to address chronic lung disease.
Aerwave Medical raised $12 million in a recently closed deal to advance a new therapy for chronic obstructive pulmonary disease, which completed its first human trials last week. The disease is the fourth leading cause of death globally, according to the World Health Organization, and cases are expected to rise over the next three decades.
The problem, which is linked to smoking and air pollution, affects more than 14 million adults nationwide. Interest in the disease has grown in recent years and more companies are exploring the nooks and crannies of the treatment field and market.
Aerwave Medical’s headline therapy uses ultrasound to perform a procedure known as lung denervation, in which nerve endings are blocked to alleviate inflammation in the airways. Along with the deal, the company announced the efficacy of the platform in an initial study involving five human subjects. The company says the process will simplify one of the main treatments for chronic obstructive pulmonary disease by removing the need for a number of minimally invasive steps, including multiple catheter exchanges and X-ray guidance techniques.
The disease is becoming a larger part of the public health conversation in the U.S. and globally. Last year, the National Institutes of Health funded the development of a blood test to identify adults most likely to contract a respiratory illness requiring medical care. Another company, Raleigh-based Aer Therapeutics, raised $36 million from investors to support the development of its treatment to help clear airways.
Aerwave Medical is largely backed by Lucius Partners, a Midtown-based investment firm focused on life sciences, which led the latest round with other undisclosed investors. The company also led a $4 million seed round that closed in 2021. Aerwave Medical executive chairman Jeffrey O’Donnell is a managing partner.
