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ALung Technologies closes Series B financing round

ALung Technologies, a provider of advanced respiratory products, has finalized $10m Series B financing round.

In the financing round, its existing shareholders, co-investors of Eagle Ventures, and Birchmere Ventures have participated.

Alung is using the capital to support commercialization of its Hemolung Respiratory Assist System (RAS), which provides partial respiratory assistance to patients in acute respiratory failure.

ALung Technologies chairman and CEO Peter DeComo said they recently completed a 20-patient clinical trial of the Hemolung RAS in Germany and found the results to be very encouraging.

"Our ability to secure this latest financing in a period of just four months reflects the confidence of our investors in the potential of the Hemolung RAS to make a real difference in the lives of patients suffering from acute respiratory failure," DeComo said.