ALung Technologies, Inc., a Pittsburgh, PA-based provider of low-flow extracorporeal carbon dioxide removal (ECCO2R) technologies for treating patients with acute respiratory failure, closed a $12m financing.
The company intends to use the funds for the continued commercialization of its Hemolung Respiratory Assist System (RAS), and pursuit of FDA approval following its recent designation to the agency’s Expedited Access Pathway (EAP) program.
Led by Peter DeComo, Chairman and CEO, ALung Technologies is advancing the Hemolung Respiratory Assist System (RAS), a minimally invasive artificial lung device which removes carbon dioxide independently of the lungs through a process called Respiratory Dialysis®.
Since receipt of CE mark in 2013, the Hemolung RAS has been used by centers and physicians around the world.
ALung is backed by individual investors and venture firms including Allos Ventures, Birchmere Ventures, Blue Tree Ventures, Riverfront Ventures, the Accelerator Fund, and West Capital Advisors.