Eagle Ventures has led a $14 million Series A financing round for Pittsburgh-based ALung Technologies. The devicemaker says the funding will go to financing clinical trials of its Hemolung Respiratory Assist System, a device which could help patients with acute respiratory failure to avoid intubation and invasive mechanical ventilation. The system removes carbon dioxide and delivers oxygen to the patients blood through a catheter in the jugular or femoral vein. Unlike traditional tracheal intubation, Hemolung allows users to talk and eat normally while on the system.
"This financing will allow ALung to complete its clinical trial in Germany and subsequently commercialize the Hemolung System," said ALung CEO Peter DeComo. "The ability of the company to secure this financing in the current economic climate reinforces the potential of the Hemolung technology to help patients heal more quickly while reducing the overall cost of healthcare." A German study of the device is underway; a US-based trial will soon follow.
- check out the ALung release
PLUS: Burlington, MA-based InfraReDx has completed a $21 million equity financing with the help of Sanderling Ventures. The company is using the funds to support launch of the LipiScan IVUS Coronary Imaging System, an intravascular imaging system that combines and co-registers grayscale intravascular ultrasound (IVUS) with InfraReDx's proprietary near infrared (NIR) spectroscopy lipid core plaque (LCP) detection technology. InfraReDX release
ALSO: Spacelabs Medical has landed a $13.5 million Defense Department contract for "patient monitoring systems, related products and training on the devices," according to Mass Device. Report