Hemovent Expands Series A Financing To Fast-Forward Development Of Its Artificial Lung Platform, Including Applications For Extracorporeal Life Support (ECLS) And Extracorporeal Co2 Removal (ECCO2R)
Published: Jul 20, 2017
AACHEN, Germany--(BUSINESS WIRE)--Hemovent GmbH announced today it has received an undisclosed cash infusion in an oversubscribed series A expansion round from all existing investors as well as new investor, 1st Capital Partner. This funding follows Hemovent’s announcement last month that it has successfully completed the first series of in vivo trials for the initial application of its novel and portable Artificial Lung technology platform, designed for a range of indications from ExtraCorporeal CO2 Removal (ECCO2R) to ExtraCorporeal Life Support (ECLS).
“In vivo trials have already validated our platform’s superior blood-handling behavior and efficiency parameters compared to standard ECMO. We expect when Hemovent is available by mid-next year it will immediately drive ECMO usage not only for ECLS but also as an effective therapy for respiratory failure indications including ECCO2R protocols.”
These applications, ECCO2R and ECLS, are also referred to as ExtraCorporeal Membrane Oxygenation (ECMO): establishment of an artificial external blood circuit with a portable pump and gas exchanger system to support lung function only or even establish a full cardiopulmonary bypass. ECMO as a temporary “artificial lung” either provides respiratory support to patients whose lungs are so damaged they cannot perform their function, or as a temporary “life support system” and takes over the heart function in case of acute heart failure.
“The fact that all Hemovent investors participated in this new round, and that 1st Capital Partner is an experienced life sciences investment firm known for investing sizable funds in both early-stage and follow-on rounds, bears strong testimony to the opportunity ahead of us as well as the efficient progress we have been able to make to date,” said Christof Lenz, a co-founder and CEO of Hemovent.
“Our investors understand Hemovent’s platform is positioned to disrupt a billion-dollar market,” Lenz added. “In vivo trials have already validated our platform’s superior blood-handling behavior and efficiency parameters compared to standard ECMO. We expect when Hemovent is available by mid-next year it will immediately drive ECMO usage not only for ECLS but also as an effective therapy for respiratory failure indications including ECCO2R protocols.”
Hemovent GmbH is an emerging medical device company that has developed the world’s smallest and first self-contained fully portable artificial lungs for ExtraCorporeal Membrane Oxygenation (ECMO) /ExtraCorporeal Life Support (ECLS) applications designed to support or replace heart and lung function in the event of cardiac and/or respiratory failure.
CAUTION: The Hemovent ECMO/ ECLS System is not approved for human use.
Ronald Trahan Associates
Ronald Trahan, APR, +1-508-359-4005