More than 100 angel investors helped ALung Technologies Inc. in Pittsburgh, Pennsylvania, to a $14 million fundraising round, according to Pop City. ALung will use the latest investor capital to pay for ongoing clinical trials of its Hemolung Respiratory Assist System -- a kind of artificial lung that removes carbon dioxide directly from a patient's blood while infusing it with oxygen.
The money will start human trials on the device, called CardioARM, and complete a commercial product to be submitted for both U.S. and European approval. Cardiorobotics thinks its slender winding robot that remembers its path through the body can by used in an array of surgical procedures. But CardioARM itself could be used in up to 1 million relevant cardiac procedures a year, including ablations.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.