Nu-Med Plus said it received interim funding to accelerate the completion of its inhaled nitric oxide clinical device designed for congenital pulmonary hypoplasia and neonatal hypoxia therapy.
The new funding came under the guidance of Smith Corporate Services, Salt Lake City, Utah-based Nu-Med Plus said.
“We are very excited about the amazing interest and attention that our company is experiencing and trust that with this additional capital the company can move quickly toward redefining the INO arena with the completion of our INO clinical device using our conversion technology, which will allow for single treatments for internal and external therapies in numerous medical facilities and services,” CEO Jeff Robins said in a prepared statement.
Nu-Med Plus said research is being undertaken to explore other uses for the device and applications that require vasodilation and increased delivery of oxygen to diseased and injured tissue.
The company said its small, multi-dose in-development INO clinical device is being designed to be able to deliver high-purity inhaled nitric oxide in single-dose treatments for therapeutic uses.