Apreo Health

Apreo Health is a clinical-stage medical device company, founded in 2021 and headquartered in Menlo Park, California, that is focused on treating severe emphysema. The company was established at The Foundry, a medical technology incubator, and emerged from stealth in May 2025. Apreo Health is led by CEO Karun Naga.

The company's core product is the BREATHE Airway Scaffold, a bronchoscopically delivered, self-expanding nitinol implant designed to relieve lung hyperinflation by releasing trapped air from the lungs. This tissue-sparing solution aims to offer a safer and more broadly applicable treatment compared to existing interventions, which often have high complication rates and limited patient applicability. The device is designed to resist foreign body reactions, ensuring durability, and has received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in May 2024.

Apreo Health's business model centers on the development and future commercialization of the BREATHE Airway Scaffold. The company is actively engaged in clinical trials to validate the safety and efficacy of its device. Early feasibility studies (BREATHE 1 & 2) enrolled 60 patients in Australia and Europe, demonstrating a 92.4% technical success rate. The company is now advancing its pivotal BREATHE-3 trial, which will enroll up to 250 patients across the U.S. and Europe. To fund these trials and early commercialization efforts, Apreo Health has raised approximately $154 million. This includes a $130 million Series B financing round in August 2025, co-led by Bain Capital Life Sciences and Norwest, with participation from F-Prime, Intuitive Ventures, Lightstone Ventures, and Santé Ventures.

Keywords: interventional pulmonology, emphysema treatment, airway scaffold, medical device, COPD, lung hyperinflation, BREATHE Airway Scaffold, clinical-stage, bronchoscopic implant, nitinol implant, tissue-sparing, medtech, respiratory care, The Foundry, Karun Naga, Bain Capital Life Sciences, Norwest, Breakthrough Device, FDA, lung volume reduction, clinical trials