Life science investment company Ally Bridge Group said on Thursday that it has supported and led an over-subscribed USD65m financing of Pulmonx Corporation.

Based in Redwood City, California, and Neuchâtel, Switzerland, Pulmonx Corporation is a provider of diagnostic and therapeutic pulmonary device technologies, with its key product approved and marketed in the US, Europe, Australia, and Asia, including China.

Pulmonx's key product, Zephyr Valve, is the first minimally-invasive device approved by the US FDA for treating patients with severe emphysema, a progressive and life-threatening form of COPD. The Zephyr Valve treatment is included in emphysema treatment guidelines issued by leading health organisations worldwide, including the Global Initiative for Chronic Obstructive Lung Disease (GOLD) and the UK's National Institute for Health and Care Excellence (NICE), Ally Bridge Group said.

The company's investment in Pulmonx follows new or follow-on investments in Axonics (NASDAQ:AXNX), Vapotherm (NASDAQ:VAPO), OrthoPediatrics (NASDAQ:KIDS), Shockwave Medical (NASDAQ:SWAV) and Silk Road Medical (NASDAQ:SILK).