More than 100 angel investors helped ALung Technologies Inc. in Pittsburgh, Pennsylvania, to a $14 million fundraising round, according to Pop City. ALung will use the latest investor capital to pay for ongoing clinical trials of its Hemolung Respiratory Assist System — a kind of artificial lung that removes carbon dioxide directly from a patient’s blood while infusing it with oxygen.
[Read more of this report]The money will start human trials on the device, called CardioARM, and complete a commercial product to be submitted for both U.S. and European approval. Cardiorobotics thinks its slender winding robot that remembers its path through the body can by used in an array of surgical procedures. But CardioARM itself could be used in up to 1 million relevant cardiac procedures a year, including ablations.
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