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.
Last year ALung drummed up $10 million in a Series B round it planned to use to commercialize the Hemolung device, which is cleared for sale in Europe and Canada. In May ALung said it’s pursuing approval from the China Food & Drug Administration for Hemolung.
The most recent funding round is likely aimed at a U.S. trial for the device. ALung expects to meet with the FDA this month to discuss the parameters of a 3-year clinical trial that could begin next year, CEO Peter DeComo told the Pittsburgh Tribune-Review.
Last year DeComo said ALung’s clinical trials could cost about $25 million, according to the newspaper.