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PneumRx Inc. Buys Key Assets from Broncus Technologies, Inc. for Undisclosed Amount



5/21/2012 9:05:19 AM

MOUNTAIN VIEW, Calif., May 21, 2012 /PRNewswire/ -- PneumRx, Inc. (www.pneumrx.com), a medical device company dedicated to bringing innovation and improvements to the treatment of lung disease, today announced that it has expanded its intellectual property portfolio by acquiring key patents and domain names from Broncus Technologies.

(Logo: http://photos.prnewswire.com/prnh/20120514/SF06703LOGO)

As a result of the acquisition, PneumRx now owns numerous domain names, including emphysema.com, as well as several foundational patents in the emphysema/interventional pulmonology space.

The newly-acquired Intellectual Property is a valuable complement to PneumRx's extensive IP portfolio. It will allow the company to further strengthen its IP position, block competing technologies, and take additional segments of the pulmonary disease market.

PneumRx currently manufactures the RePneu LVRC System, a minimally invasive device intended to improve lung function in emphysema patients by bronchoscopically implanting Nitinol coils into the lungs to compress diseased tissue (lung volume reduction), restore elastic recoil, and adjust lung compliance. This treatment offers a minimally invasive alternative to lung volume reduction surgery to a broad range of emphysema patients.

The RePneu LVRC has been approved for a 30-site IDE pivotal clinical trial in the United States. The device is offered commercially in Europe, where it received the CE Mark in 2010.

"We are most pleased with the Broncus IP acquisition, which will bolster PneumRx's position as a leader in interventional pulmonology," said Erin McGurk, PneumRx's President and CEO. "PneumRx looks forward to leveraging the newly-acquired IP in pursuit of our mission to provide solutions for the millions of people suffering from pulmonary disease."

About PneumRx, Inc.

PneumRx, Inc. is a rapidly growing medical device company focused on the development and commercialization of innovative products to treat emphysema using minimally-invasive techniques. It is a privately held company located in Mountain View, California.

SOURCE PneumRx, Inc.




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