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Gimv. (3/8/17). "Press Release: Gimv Co-leads EUR 43.5 million Financing of Breath Therapeutics". Antwerp.

Organisations Organisation Gimv Health & Care fund
  Group Gimv (Group)
  Organisation 2 Breath Therapeutics B.V.
  Group Zambon (Group)
Products Product respiratory drug
  Product 2 venture capital
Index terms Index term Breath Therapeutics–Gimv: investment, 201703 financing round Series A totalling €43.5m incl co-led by Gimv + Sofinnova Partners
  Index term 2 Breath Therapeutics–SEVERAL: investment, 201703 financing round Series A €43.5m co-led by Gimv + Sofinnova Partners
Person Person Nägler, Karl (Wellington Partners 202001– Managing Partner before Gimv + Ventech + Atlas Venture)

Funding will be used to execute pivotal trials

Breath Therapeutics BV today announced the closing of a series A financing round. Thereby the company secured funding of EUR 43.5 million. The round was co-led by Gimv and Sofinnova Partners, which were joined by Gilde Healthcare. PARI Pharma financially supports the program. This financing, which is one of the larger rounds for a European start-up over the past years, will enable Breath Therapeutics to conduct the phase III trials in Europe and the US, to submit for marketing approval and prepare for commercialization.

Breath Therapeutics is a spin-out from Munich-based PARI Pharma GmbH (, specializing in advanced and first-in-class inhalation therapies for severe respiratory diseases. Breath Therapeutics is using proprietary drug formulations optimized for inhaled administration with exclusively licensed, high performance nebulizers. Its lead program develops a first-in-class inhalation therapy against Bronchiolitis Obliterans Syndrome (BOS). BOS is a lethal orphan respiratory disease, affecting 65% of all lung transplant patients. It is the main raison for the poor 5-year-survival rates after lung transplantation. The company’s founding team has strong expertise in clinical development, registration and commercialization of drug-aerosol therapeutics.

Karl Nägler, Partner in Gimv’s Health & Care team on this transaction: “We have followed this opportunity for more than a year and worked closely with the Breath-team to orchestrate this spin-out. This carve-out is therefore a nice example of a mid-sized company inviting external expertise and financial resources to bring to maturity an in-house innovation.”

For more information on this transaction, we refer to the press release of Breath Therapeutics in attachment.


Gimv is a European investment company with over three decades experience in private equity and venture capital. The company is listed on Euronext Brussels. Gimv currently manages around 1.8 billion EUR (including co-investment partnerships) of investments in about 50 portfolio companies.

As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are: Connected Consumer, Health & Care, Smart Industries and Sustainable Cities. Each of these platforms works with a skilled and dedicated team across Gimv’s home markets of the Benelux, France and Germany and can count on an extended international network of experts.

More information on Gimv can be found on

For further information please contact:

Karl Nägler, Partner Health & Care Gimv
T +49 89 44 23 27 50 –

Frank De Leenheer, Investor Relations & Corporate Communications Manager
T +32 3 290 22 18 –

Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - F +32 3 290 21 05 -

Record changed: 2023-06-05


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