Pulmonx, which makes minimally invasive medical devices for emphysema, filed on Friday with the SEC to raise up to $86 million in an initial public offering. The company previously filed to raise $86 million in February 2020 but withdrew the following May after raising $66 million privately.
Pulmonx's Zephyr Valve, a severe emphysema treatment device, received pre-market approval in 2018 and is now commercially available in more than 25 countries, with over 80,000 valves used to treat more than 20,000 patients through June 30, 2020.
The Redwood City, CA-based company was founded in 1995 and booked $32 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol LUNG. Pulmonx filed confidentially on August 18, 2020. BofA Securities, Morgan Stanley, Stifel, Wells Fargo Securities and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
