Vapotherm, Stevensville, Md, announced that it has secured $20.5 million in new equity financing. Three new investors led the financing: GE Asset Management, Cross Creek Capital, and Integral Capital Partners, while two existing investors of Vapotherm (QuestMark Partners and Kaiser Permanente Ventures) also participated in the round.
“We are extremely pleased to have the support of our new and existing investors. The caliber of the investor syndicate is recognition of the progress made by the company’s management and employees, and indicative of the significant opportunity ahead for a wide range of products based on the company’s platform technology,” says Robert Storey, President and CEO of Vapotherm.
The financing will support plans to further new product development, expand sales, and launch Vapotherm’s newest acute care device, the Precision Flow, which recently earned 510(k) clearance from the Food and Drug Administration.
“We are excited about the broad application potential for Vapotherm’s high flow therapy system to create multiple franchises in the treatment of respiratory conditions, sleep apnea, and drug delivery,” says Brian Stansky, Managing Director of Integral Capital Partners.
