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 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.
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 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.
ALung Technologies said it’s pursuing approval from Chinese regulatory authorities for its Hemolung respiratory assist system.
The Pittsburgh-based medical device company said it inked a deal with Curative Medical to seek approval for the Hemolung device from the China Food & Drug Administration.
Financial projections from AngioDynamics (NSDQ:ANGO) about its $372 million deal to acquire Navilyst Medical show that it expects to reap some significant rewards from the merger over the short and long terms.
GE Healthcare (NYSE: GE) invested an undisclosed amount into C8 Medisensors, a developer of non-invasive continuous glucose monitors for diabetic patients.
C8 aims to provide glucose monitoring that is "painless, accurate, continuous, noninvasive, and nonintrusive to your life," according to its website.
The San Jose, Calif.-based company’s glucose monitors use light spectroscopy to measure blood glucose levels without the need for frequent finger pricks.
ALung Technologies Inc. closed a $14 million series A financing round.
Pittsburgh-based private equity firm Eagle Ventures Inc. led the funding round, with venture capital firm Birchmere Ventures and new and existing individual investors also joining in.