Nuvaira Inc., a Maple Grove-based manufacturer of a device to treat lung ailments, has secured over $15 million in capital, according to a securities filing.
Founded in 2008, Nuvaira makes the dNerva lung denervation system, which is meant to treat lung diseases by zapping overactive nerves in the airways with electricity. It treats diseases like chronic obstructive pulmonary disease and asthma.
Since its launch, Nuvaira has raised about $204 million in funding across 10 rounds, according to Crunchbase. Most recently, it raised over $50 million in 2022.
That same year, it performed five clinical trials for 300 patients with the degenervation system.
In 2019, Nuvaira achieved one of Minnesota's biggest venture capital deals of the year with $79 million in a round led by its primary investor, Silicon Valley venture firm U.S. Venture Partners. At the time, the company said it would use the funding to start the third and final clinical trial for dNerva.
Nuvaira couldn't be reached before publication to comment about how the new funding would be used.
