University of Maryland-founded artificial lung developer Breethe is targeting $5m for its latest round after previously raising approximately $7.8m.
Breethe, a US-based artificial lung developer spun out from University of Maryland, Baltimore (UMB), has obtained $3.5m out of a targeted $5m from undisclosed investors, according to a regulatory filing.
Founded in 2014, Breethe is developing a backpack-sized artificial lung which oxygenates the patient’s blood, offering greater portability than respirator machines which require the recipient to stay in hospital.
The technology could help treat those suffering from severe pulmonary diseases. Breethe was founded by Bartley Griffith, a professor specialising in cardiothoracic surgery at the University of Maryland Medical School, which is based at UMB.
UM Ventures, the tech transfer office for UMS, had supplied Breethe with $100,000 in funding in 2015, as part of a $1.7m round also featuring unnamed investors.
Breethe went on to secure another $6.4m from undisclosed investors between 2016 and 2017, regulatory filings show, including $1.2m and $3m obtained in August and December 2017 respectively.
