Ventec Life Systems raised $7 million in a new round of equity financing, according to an SEC filing posted this week.
Ventec produces the VOCSN portable life support system. The system provides 5 different respiratory therapies, including ventilation, oxygen, cough, suction and nebulization.
Money in the round came from 56 unnamed sources, according to the SEC filing, with the 1st sale recorded on April 4. The company is not seeking any more sales in the round.
The Bothell, Wash.-based company won FDA 510(k) clearance for the system early last month, claiming it to be the only device cleared by the FDA which provides all 5 respiratory therapies.
The device is cleared for use with adults and pediatric patients weighing more than 5 kg, the company said, and is designed to improve care for patients with neuromuscular diseases, impaired lung function, spinal cord injuries and pediatric development complications.
Ventec claims the device is 70% lighter and smaller than existing machines, and features a 9-hour on-board battery controlled through a touch screen interface.