Devices & Diagnostics

ALung secures $10M ahead of artifical lung system’s launch in Germany

ALung Technologies Inc. has raised a $10 million series B round in preparation for a […]

ALung Technologies Inc. has raised a $10 million series B round in preparation for a product launch of its Hemolung oxygen-delivery device in Germany this year, the Pittsburgh Tribune-Review is reporting.

MedCity News reported back in December that the medical device company had already raised $6.6 million and filed for the CE Mark.

The Hemolung Respiratory Assist System is intended for patients with acute respiratory failure to avoid having to be on a mechanical ventilator. It supplements lung function through a small catheter and administers oxygen into the blood as it removes carbon dioxide.

The global market for noninvasive ventilation was worth an estimated $187 million in 2009 and forecast to reach $263.4 million by 2014, according to a market report from IMS Research.

Despite a successful series B round, ALung CEO Peter DeComo told the Tribune-Review that the company will need at least $25 million more before it can launch its product in the U.S.

The Pittsburgh medical device maker has already raised $40 million since its inception from more than 100 angel investors and venture funds including Eagle Ventures and Birchmere Ventures.

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