Terms of the transaction were not disclosed.

AeriSeal has been developed to treat emphysema, a form of chronic obstructive pulmonary disease (COPD). The treatment utilises foam sealant to block diseased regions in the lung to achieve volume reduction and improve breathing function.

The treatment has been developed for patients with heterogeneous and homogeneous emphysema, and is independent of collateral ventilation.

AeriSeal will be available in Europe, upon receiving CE mark approval, and is expected in the second half of 2015.

Pulmonx also produces Zephyr Endobronchial Valve (EBV), a minimally invasive treatment for severe emphysema.

Pulmonx CEO Glen French said: "Our Zephyr EBV device has been proven to significantly and predictably improve symptoms in certain advanced emphysema patients.

"By adding AeriSeal to our portfolio, we will be filling a treatment gap, enabling us to treat almost the entire spectrum of advanced emphysema patients."