Navigation Links
ALung Secures $2.5 Million
Date:10/6/2009

PITTSBURGH, Oct. 6 /PRNewswire/ -- ALung Technologies, Inc. today announced that the company has raised $2.5 million from a group of current ALung investors. The investment will allow the company to fund its Indian and German clinical trials as well as support working capital needs. ALung is the leading developer of a device designed to replace or supplement ventilators in hospitals. The company's Hemolung device is expected to positively impact clinical outcomes and reduce the length of hospital stays by several days, resulting in a significant reduction of total medical costs for providers and insurers.

The Hemolung System is designed to remove carbon dioxide and deliver oxygen directly to the patient's blood via a small catheter, inserted into the jugular or femoral vein, similar to acute kidney dialysis. This treatment is expected to provide a significant benefit over intubation and mechanical ventilation, in that it will allow the patient to talk and eat, and avoid sedation, while giving the lungs the opportunity to heal.

"ALung has the potential to improve care greatly for the target patient group over the current methods used in Intensive Care Units (ICUs), achieving both improvements in clinical outcomes and major savings in cost of care," said Peter M. DeComo, ALung's Chairman and CEO and an investor in the company. "Today's health care community is focused on the principal goals of reducing health care costs and improving patient care. Our device - which can eliminate a very large expenditure of money and human resources while improving outcomes for patients - will therefore be extremely relevant."

Currently 450,000 patients in the U.S. are ventilated each year for temporary, acute or acute-on-chronic respiratory failure. It is anticipated that the clinical trials will demonstrate that the Hemolung System can replace or supplement this form of ventilation. With intensive care unit (ICU) care estimated at $5-7,000 per day, Hemolung is expected to reduce hospital costs through its ability to reduce ICU length of stay. Further cost savings are expected to be realized through the elimination of sedation costs and a reduction in adverse outcomes such as ventilator acquired pneumonia (VAP) - estimated at greater than $125,000 per incident. VAP represents the most common and deadly hospital acquired condition (HAC) with approximately 25 percent of all ventilator patients developing the condition. (ref: Society of Critical Care Medicine).

"We are very enthusiastic regarding the positive outcome of our near-term clinical trials," said Mr. Nick Kuhn, Chief Operating Officer of ALung, "The completion of our eight animal studies, as well as our in vitro testing, have resulted in excellent results, indicating that the upcoming Hemolung human clinical trials should yield very positive results."

ALung is moving forward with a five patient "First in Man" trial in India on the Hemolung

System, and a 20 patient pilot trial in Germany. Both trials are expected to begin in the fourth quarter of 2009.

About ALung Technologies

ALung Technologies, Inc. is commercializing artificial lung devices for the treatment of acute and chronic respiratory disorders. The company's Hemolung System, designed to replace or supplement the use of ventilators for patients with acute respiratory failure, is scheduled to begin clinical trials in the fall of 2009. Learn more about ALung and Hemolung at www.alung.com.

SOURCE ALung Technologies, Inc.


'/>"/>
SOURCE ALung Technologies, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Aegerion Pharmaceuticals, Inc. adds Peter Garrambone to Board of Directors, Secures Additional Capital for Clinical Trials
2. Alexion Secures U.S. Patent for ALXN6000, a First-In-Class Anti-CD200 Monoclonal Antibody
3. GeoVax Secures $10 Million Financing Commitment
4. Acura Pharmaceuticals, Inc. Secures Financing to Fund Pivotal Phase III Clinical Trial for Lead Aversion(R) Technology Product Candidate
5. CEL-SCI Secures Manufacturing Facility for Multikine Cancer Drug
6. Blue Shield of California Awards $29.6 Million in Pay-for-Performance Programs in 2009
7. Misonix, Inc. Announces the Sale of Sonora Medical Systems for $8 Million
8. Catalyst Pharmaceutical Partners, Inc. To Raise $3.97 Million In Registered Direct Offering
9. SyntheMed Completes $1.0 Million Equity Placement
10. CVS Caremark Launches Distribution of $3 million in Free Seasonal Flu Shot Vouchers to the Unemployed
11. ThermalTherapeutic Systems Completes $2.75 Million Series A Financing With Originate Ventures
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... YORK , Jan. 19, 2017 This ... the current and future scenario of the global market. ... rising opioid consumption. Severe chronic constipation is a major ... to traditional laxatives. Hence, novel targeted therapy has been ... OIC sufferers, launch of targeted medicines, and growing awareness ...
(Date:1/19/2017)... 19, 2017  Stealth BioTherapeutics Inc. ( Stealth ), ... dysfunction, today announced new additions to its senior leadership ... Medical Officer, and Daniel Geffken as interim ... Jim Carr , Pharm.D. has been promoted to Chief ... to welcome Doug and Daniel to our management team, ...
(Date:1/19/2017)... January 19, 2017 According to a study ... is set to witness a CAGR of 6.5% during the forecast ... will continue to be the leading market for cryotherapy globally ... ... emphasizing on ensuring affordable and adequate supply of gas in order ...
Breaking Medicine Technology:
(Date:1/20/2017)... (PRWEB) , ... January 20, 2017 , ... International Protein, ... nutritional and bodybuilding supplements, announced it attended the January ECRM trade show in Hilton ... and nutritional scientist who was determined to create a line of products that would ...
(Date:1/20/2017)... ... , ... “Mary Magdalene: Grace is Greater than Sin”: a unique and ... Christ firsthand. “Mary Magdalene: Grace is Greater than Sin” is the creation of published ... with countless women who had little knowledge of the female characters portrayed in the ...
(Date:1/20/2017)... Farmville, NC (PRWEB) , ... January 20, 2017 ... ... the vPEP ® Oscillating Positive Expiratory Pressure (OPEP) device, was featured in ... article by Doug Pursley, MEd, RRT-ACCS, FAARC, “Analysis of Three Oscillating Positive ...
(Date:1/20/2017)... ... 20, 2017 , ... “The Land of More and More”: a brilliant ... hunger, and shares the simple and achievable answer. “The Land of More and More” ... Fairview Missionary Church in Angola, Indiana where he works with the children’s ministry department. ...
(Date:1/19/2017)... ... 19, 2017 , ... Next week after January 20th, the fear for many ... that circumvent health needs of over 30 million. Many interviews with Dr. Carol Francis ... government public servants were suppose to prioritize. Interviews provided below. , Among ...
Breaking Medicine News(10 mins):