Innovative Pulmonary Solutions Inc. Closed on $10 Million
2/13/2013 8:50:22 AM
Med-tech startup Innovative Pulmonary Solutions Inc. (IPS) has changed its name, moved its headquarters from Washington state to Plymouth, and closed on $10 million in venture capital. IPS announced last year that it would relocate from Bellevue, Wash., to the Twin Cities, after naming Dennis Wahr, a local serial med-tech entrepreneur, to serve as its CEO. The company said Monday it has changed its name to Holaira Inc. The startup's recent round of financing was led by its previous investors, including Advanced Technology Ventures, Morgenthaler Ventures, Eden Prairie-based Split Rock Partners, and Versant Ventures, which opened a Twin Cities office last year. Holaira is developing technology that aims to treat patients suffering from chronic obstructive pulmonary disease (COPD), a term that covers emphysema and chronic bronchitis.