West Capital Partners, Birchmere Ventures, BlueTree Capital Group, PLSG Accelerator Fund and Smithfield Trust Company also backed the round, one of the largest this year in Pittsburgh’s life sciences market.
ALung said the proceeds would go towards ongoing global commercialisation of the Hemolung Respiratory Assist System, which provides a dialysis-like alternative or supplement to mechanical ventilation.
Allos managing director John McIlwraith was previously an investor in ALung chairman Peter DeComo’s Renal Solutions business, which was bought by Fresenius Medical Care for $190m in 2007.
In April Vapotherm, a company which makes technology designed to help people with breathing disorders, closed a $29m financing round led by the 3×5 Special Opportunity Fund and included new investor Morgenthaler Venture Partners.
Existing investors GE Asset Management, Kaiser Permanente, Integral Capital Partners, QuestMark Partners and Cross Creek Capital also participated in the round.
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