ALung Technologies Raises $14M in Series A Financing Round
Published On October 11, 2010 |
ALung Technologies, Inc., a Pittsburgh, PA-based medical device company commercializing artificial lung devices for the treatment of respiratory failure, has closed a $14m Series A financing round.
The round was led by Eagle Ventures, with participation from Birchmere Ventures, as well as new and existing individual investors.
The funding will support ongoing clinical trials of the company’s Hemolung™ Respiratory Assist System and its subsequent commercialization.
A pilot study of the device is currently underway in Germany to demonstrate the safety and performance of the device. A US-based pivotal trial to gain FDA clearance will follow.
The system is designed to remove carbon dioxide and deliver oxygen directly to the patient’s blood via a small catheter, inserted into the jugular or femoral vein, similar to acute kidney dialysis. The device is expected to help patients with acute respiratory failure to avoid intubation and invasive mechanical ventilation, as well as allow them to talk and eat, avoiding sedation and giving the lungs the opportunity to heal.