ANN ARBOR, Mich., March 23 /PRNewswire/ -- The innovative therapies for lung failure from medical device company Novalung GmbH continue to gain acceptance. Additional financing will allow the Talheim (Germany) based company to accelerate the development of new products.
Novalung GmbH increased sales by 50% in 2009. The increasing acceptance of the company's innovative therapies for lung failure both in Germany and abroad is driving continuing growth. Manufacturing operations moved into a new, larger clean-room facility at the end of 2009.
In order to maintain this growth and to fund further international expansion, the private equity group Zukunftsfonds Heilbronn GmbH & Co.KG ("Future Fund of Heilbronn", zfhn) and the LBank, state bank of Baden-Wurttemberg, completed an additional financing round for Novalung. The zfhn acted as lead investor for the second time.
Thanks to the additional funding, commercialization of new products can be pursued more aggressively. These measures put Novalung in an excellent position to establish itself internationally as the pioneering provider of solutions for lung failure, and to revolutionize the treatment of lung failure with new therapies.
Novalung products allow a paradigm shift from the mechanically ventilated patient in an artificial coma to the awake, mobile patient breathing spontaneously. The innovative technologies to replace mechanical ventilation and eliminate the associated ventilator-induced lung injury advance this approach and provide physicians, nurses and patients with new therapeutic options.
Novalung's vision for the future for the long-term treatment of patients with advanced lung disease is a small, wearable artificial lung that frees patients from respiratory stress, improves their overall condition and thus improves their quality of life.
Founded in 2003, Novalung GmbH operates on a highly international level in order to establish new solutions for lung failure. These advanced technologies from Germany and the U.S. were brought into the company and developed further. Novalung's devices have been used to treat more than 5,000 patients.
The privately funded Novalung GmbH is a fast growing medical technology company based in the area of Heilbronn, Germany, with a subsidiary in Ann Arbor, Michigan.
Novalung has received limited FDA clearance to market its devices in the U.S., and the company plans to begin clinical trials here in 2010 to expand its indications in extracorporeal lung support.
SOURCE Novalung, Inc.Back to top
|SOURCE Novalung, Inc.|
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