Uptake Medical, which is developing new medical device technologies to treat emphysema, has raised $35 million of a $41 million venture capital round, according to a SEC filing.
Unfortunately, the big financing won’t be counted toward Washington state’s venture capital totals. That’s because Uptake Medical moved its headquarters to southern California earlier this year.
It continues to have technical operations in Seattle, with a spokeswoman telling GeekWire that about 20 of the company’s 30 employees are currently based in Washington state. The spokeswoman declined to comment on the company’s latest fundraising efforts.
Uptake is led by R. King Nelson, the former CEO of Kerberos Proximal Solutions. It is backed by GBS Venture Partners, Maverick Capital, Affinity Capital, WRF Capital of Seattle and others. It raised $17.5 million last year.
Here’s a closer look at how Uptake’s InterVapor technology works, which utilizes heated water vapor to reduce diseased tissue in emphysema patients.