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Asthmatx Secures $50 Million Strategic Investment

Wednesday, May 16, 2007 5:00:00 AM PDT | VentureDeal Staff

MOUNTAIN VIEW, CA -- Medical device developer Asthmatx announced that it has received a $50 million equity investment in return for a 15% stake in the company.  The stake values the company at an effective $335 million post-money.

Asthmatx is developing catheter-based medical devices for the treatment of severa asthma via its Alair(R) System, which the company claims to have demonstrated a reduction of the narrowing of airway passages.

The investor was Olympus Medical Systems Corp. of Tokyo, Japan.  The company said the proceeds would fund its operations through FDA approval and market launch of its device.

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