ALung Technologies Inc, Pittsburgh, has secured $10 million in financing to support the continued commercialization of its Hemolung® Respiratory Assist System (RAS).
Developed at the University of Pittsburgh, the Hemolung RAS provides partial respiratory assistance to patients in acute respiratory failure. Using an extracorporeal circuit, small venous catheter, and techniques similar to hemodialysis, the system removes carbon dioxide and delivers oxygen directly to the patient’s blood, allowing the patient’s lungs to rest and heal. According to the company, the device is expected to allow patients to avoid intubation and invasive mechanical ventilation in many cases.
“We recently completed a 20-patient clinical trial of the Hemolung RAS in Germany and found the results to be very encouraging,” said Peter DeComo, chairman and CEO of ALung Technologies. The results of the trial are currently being reviewed by European regulators as part of the company’s application for a CE mark.
“Completing the clinical trial and regulatory filing for the CE mark were significant achievements for our company last year. Our ability to secure this latest financing in a period of just 4 months reflects the confidence of our investors in the potential of the Hemolung RAS to make a real difference in the lives of patients suffering from acute respiratory failure,” added DeComo.
Source: ALung Technologies Inc