ALung Technologies, Inc.
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Latest From ALung Technologies, Inc.
Breathing Easy: ALung CEO Talks Novel Hemolung Device, FDA's Breakthrough Pathway, Landmark US/UK Clinical Trials
In a deep-dive sit-down interview with Medtech Insight, ALung Technologies CEO Pete DeComo dishes on US FDA's Breakthrough Devices Program and explains why his firm's novel artificial lung device, Hemolung, is worthy of traveling the expedited pathway to agency approval. DeComo also details two pivotal Hemolung clinical trials in the US and UK, and explains why Hemolung isn't marketing the device for commercial use despite being approved in 36 countries outside the US. He also talks about a future portable version of Hemolung, but noted that's not where ALung is focused right now. "Our first task is that first-generation technology – to get it to market, make it the standard-of-care, and then, if you are successful with all of that, you can do all of those wonderful other things as it relates to portability and wearability," DeComo says.
ALung CEO Pete DeComo says the start-up's novel Hemolung device might never have seen the light of day if it weren't for the support of the company's local community and, in particular, investment firm Pittsburgh Life Sciences Greenhouse. And ALung isn't the only Pittsburgh medtech firm the Greenhouse is aiding – there are currently 25 device and diagnostics start-ups in its portfolio.
Device and diagnostics fundraising slumped in Q2, but there was a substantial uptick in M&A activity. Device financings totaled just slightly over half of the previous quarter, while acquisitions grew almost six-fold, thanks primarily to Becton Dickinson's $23.5 billion play for CR Bard. Financing in diagnostics slid to $1.03 billion, less than half of Q1, whereas the $1.7 billion in M&As (most of that from PerkinElmer's $1.3 billion buy of EuroImmun) was more than double Q1's aggregate.
Starts & Stops is a regular feature highlighting the Medtech Insight editors' picks of noteworthy medtech clinical trial initiations, completions and suspensions from the previous month. July's selection includes three trials that had to be terminated unexpectedly.
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