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Retired Respironics Chairman Jerry McGinnis and Renal Solutions CEO Pete DeComo Join ALung Technologies Board of Directors; ALung Closes on $1 Million Bridge Financing
Date:7/7/2008

domestic and international markets. On November 26, 2007, RSI was acquired for $200 million by Fresenius. Before co-founding RSI, he was the chief operating officer of HemoTherapies Inc., a start-up company in San Diego, commercializing the only FDA-cleared liver dialysis system.

"We are excited to have both Pete and Jerry join our board of directors, as they bring a wealth of experience in respiratory critical care and extracorporeal therapies, in addition to financing and operational expertise," said Nicholas Kuhn, president and CEO of ALung Technologies. "We look forward to their immediate contribution to our board."

ALung also announced a closing of the first $1 million in a $2.5 million financing round. "These funds will allow us to meet operational needs into early fall, and continue with our FDA approval process to begin our clinical trials," said Kuhn.

ALung Technologies is developing and commercializing the Hemolung System, a device that provides support for the lungs of patients in critical care with acute lung failure. "We call it respiratory dialysis," said Kuhn. "We treat the patient by removing carbon dioxide and delivering oxygen directly to the patient's blood, like an artificial lung."


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SOURCE Pittsburgh Technology Council
Copyright©2008 PR Newswire.
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