Uptake Medical Raises $17.5M

Seattle- and Irvine-based Uptake Medical, a developer of medical technologies for the treatment of lung disease, said today that it has completed a Series B financing round worth $17.5M. Uptake said the round was led by Maverick Capital, and also included prior investors GBS Venture Partners, Onset Ventures, WRF Capital, Arboretum Ventures and Affinity Capital. Uptake said it will use the financing round to obtain a CE mark on its product, and introduce its products outside of the U.S. The firm also said it has begun approval efforts with the FDA in the U.S. Uptake's device is targeted at the treatment of emphysema. More information »