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Medical device startup moves HQ to Minnesota

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Holaira, Inc., which used to be called Innovative Pulmonary Solutions, Inc., has moved its headquarters from Bellevue, Wash., to Plymouth, Minn., the Business Journal reports.

"The relocation of the company, along with our new corporate identity, sets the stage for the next level of product development and our future clinical trials," CEO Dennis Wahr said in a news release.

“Minnesota is a great environment for a medical device company,” spokeswoman Lorraine Marshall Wright told Twin Cities Business. The company currently has about 20 employees.

Holaira, a developer of medical technology, also secured $10 million in private equity financing for its lung device to treat patients with chronic obstructive pulmonary disease, Mass Device reports.

"The completion of this financing signals continued confidence in the direction of our program to develop a system to enable a minimally invasive bronchoscopic treatment for COPD," added Wahr. "Our board of directors remains unchanged and I'm pleased that Mike Carusi of Advanced Technology Ventures, Mark Deem of The Foundry, Kirk Nielsen of Versant Ventures, Hank Plain of Morgenthaler Ventures, and Dave Stassen of Spilt Rock Partners will serve alongside me."

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