HK’s Ally Bridge Group leads $65m financing for US-based Pulmonx

Photo by Henk Vrieselaar on Unsplash

Hong Kong-based healthcare-focused investment group Ally Bridge Group (ABG) has led an over-subscribed $65 million financing for Pulmonx Corporation, a California-based company in diagnostic and therapeutic pulmonary device technologies, according to a statement.

Pulmonx is focused on developing life-changing technologies that improve the lives of patients suffering from Chronic Obstructive Pulmonary Disease (COPD).

The company’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.

California-based Pulmonx is the latest example of ABG’s focus on investing in cutting-edge technologies.

This investment follows a series of recent new or follow-on investments in Axonics, Vapotherm, OrthoPediatrics, Shockwave Medical, and Silk Road Medical.

With the investment, ABG partner and managing director of medtech investing, Charles Chon, joins Pulmonx’s board as a director.

“The completion of this financing enables Pulmonx to accelerate our commercial efforts to deliver our technology to the more than one million patients around the world with severe emphysema,” said Glen French, President and Chief Executive Officer of Pulmonx.

ABG, founded and led by Frank Yu (previously from Goldman Sachs and Och-Ziff Capital), is a global life science-focused investment firm.

The Hong-Kong based firm and its affiliates manage approximately $3 billion in life science assets in China, the US and Europe, across medtech to biopharma.

Last year, ABG led the $300-million Series C financing for GRAIL, a global pioneer in early cancer detection.

Also Read:

HK’s Ally Bridge Group backs two European life science firms

HK’s Ally Bridge leads $150m investment in Sorrento Therapeutics 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.