Novalung GmbH, a Talheim, Germany-based medical device company focused on innovative therapies for lung failure, has completed an undisclosed funding round.
The investment was led by Zukunftsfonds Heilbronn GmbH & Co.KG (“Future Fund of Heilbronn”, zfhn), with participation from LBank, the state bank of Baden-Wurttemberg.
The additional funds will allow the company to accelerate the development and commercialization of new products, including an artificial lung that breathes for the patient outside the body.
Founded in 2003, Novalung develops innovative technologies to replace mechanical ventilation and eliminate the associated ventilator-induced lung injury. The company, which operates a subsidiary in Ann Arbor, Michigan, has received limited FDA clearance to market its devices in the U.S.