Category: ALung Technologies Inc.
Here's a look at some of the top funding stories for medical device companies this week: Diabetes: Senseonics raises $20M for continuous glucose monitoring implant; ALung raises $10M for Hemolung; Premia Spine confirms $7M raise for spinal fusion alternative; Spinal Kinetics reels in $34M, settles patent spat with DePuy Synthes; TAVI: Transcatheter Technologies lands 2nd Series B tranche.
ALung Technologies raises another $10 million for its Hemolung respiratory assist device.
ALung Technologies said it drummed up another $10 million it plans to use to continue commercializing its Hemolung respiratory assist device.
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.
An FDA advisory panel recommends reclassifying extracorporeal membrane oxygenator therapy from the highest-risk category to the less-risky Class II designation.
An FDA panel yesterday recommended that the FDA reclassify membrane lung for long-term pulmonary support systems, or so-called extracorporeal membrane oxygenator circuits and accessories, from the highest-risk Class III category to the less burdensome Class II, with special controls.
ALung Technologies raises a nearly $16 million Series B1 round for its Hemolung respiratory assist device.
ALung Technologies said it raised a $15.8 million Series B1 round it plans to use to accelerate the commercialization of its Hemolung respiratory assist device.
The Pittsburgh-based medical device company said the round was led by Allos Ventures and included West Capital Partners, Birchmere Ventures, BlueTree Capital Group, PLSG Accelerator Fund, Smithfield Trust Company and several private investors.
ALung inches closer to topping off a $17 million fundraising round, with less than $2.3 million left to raise.
Pennsylvania medical device maker ALung Technologies is nearing the close of a $17 million equity funding round with about $14.7 million raised so far among 48 unnamed investors, according to an SEC filings.
The new report updated a fundraising effort that began in late March 2013, and ALung reported last month that it had hit the $9.5 million mark in the raise. Now it's got about 2.3 million left before putting a bow on this round.
ALung pulls in $9.5 million in an equity funding round it hopes will eventually bring in a total of $17 million for its Hemolung respiratory assist system.
ALung Technologies raised $9.5 million of a hoped-for $17 million for its Hemolung respiratory assist system, according to a regulatory filing.
The Pittsburgh-based medical device company is aiming to get the Hemolung device on the market here and in China.