ALung Technologies filed an SEC Form D to confirm the sale of $2 million in debt, options, warrants and other rights to purchase securities.
The Pittsburgh-based company made its first sale in the new notice on May 20 and reached its offering total of $2 million by June 1. Just one investor participated in the offering.
According to the filing, the offering is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer. The company did not offer an intended use of proceeds.
ALung develops the Hemolung respiratory assist system, which uses ECCO₂R therapy to allow carbon dioxide to be removed from the blood independently of the lungs in an effort to facilitate the avoidance or reduction of intubation and invasive mechanical ventilation.
In April, Hemolung received FDA emergency use authorization (EUA) for use in treating patients suffering from COVID-19.