CytoPherx, an Ann Arbor, Michigan-based clinical stage medical device company addressing inflammation-based diseases and conditions, has completed a $34m round of funding.
The round was led by Early Stage Partners, ONSET Ventures and Capital Midwest Fund, with participation from new investors Kaiser Permanente Ventures, Emergent Medical Partners, Charter Oak Equity, Aphelion Capital, and existing investors Lurie Investments, Dow/Union Carbide Employee Pension Plans, Apjohn Ventures and North Coast Technology Investors.
The company intends to use the funding to complete U.S. clinical trials and gain FDA approval to commercialize its anti-inflammatory therapy for acute kidney injury.
Founded in July 2007 by Dr. H. David Humes and led by President and CEO Jim Danehy, CytoPherx has recently initiated a 344 Patient Pivotal Trial with leading nephrologists and medical institutions across the U.S. The primary trial end point is a clinically and statistically significant reduction in mortality through day 60 in these critically ill patients. In addition, the trial will evaluate the performance of its proprietary Selective Cytopheretic Device (SCD) for the reduction of mortality in severe sepsis patients, reduction of Acute Respiratory Distress Syndrome (ARDS), and reduction of patients who need long-term dialysis.