ALung Technologies brings in $2.6m

  Artificial lung-like device developer ALung Technologies has raised $2.6 million in a new round of financing, according to an SEC filing posted this week. Pittsburgh-based ALung’s Hemolung device is an extracorporeal carbon dioxide removal system that works by removing carbon dioxide and delivering oxygen directly to a patient’s blood via a small catheter inserted into the jugular or femoral vein. Money in the round so far has come from 36 anonymous investors, with the company seeking another $1.4 million before closing the debt and option round, according to the SEC filing. The company has not yet stated how it intends to use funds raised in the round. Last January, ALung Technologies reported raising $10.8 million in a round of debt financing. A month earlier, the company said its Hemolung RAS extracorporeal carbon dioxide removal device was selected for use in the world’s 1st pivotal trial of ECCO2R technology used to treat patients with acute respiratory failure. The U.K.’s National Institute for Health Research will supply $3.1 million (GBP £2.1 million) in funding for the 1,120 patient Rest trial, which looks to examine the effect of protective ventilation with veno-venous lung assist devices during respiratory failure. The trial will be jointly led by Queen’s University and Belfast Health and Social Services Trust, the company said. The post ALung Technologies brings in $2.6m appeared first on MassDevice.
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Respiratory ALung Technologies Inc. Source Type: news

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