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Novalung Records 50% Growth
Date:3/23/2010

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.


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SOURCE Novalung, Inc.
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