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PneumRx Secures Series B

PneumRx Inc., a Mountain View, Calif.-based developer of medical devices to diagnose and treat lung cancer and emphysema, has raised $27 million in Series B funding. Adams Street Partners and Telegraph Hill Partners co-led the deal, and were joined by Sage Venture Partners and return backers Alta Partners, KBL Healthcare Ventures and Spray Venture Partners. www.pneumrx.com