Lungpacer Medical, Inc., a medical device company developing an intravenous catheter-based phrenic-nerve-pacing system, has raised $17.175 million in Series A financing. Investors, names undisclosed, are likely venture capital or strategic investors: 1 United Arab Emirates ($4.7 million), 3 US ($4.775 million), 1 Germany ($7.7 million) .
Founded in May 2009 as a SFU spin-off, Brunaby, BC Lungpacer Medical was recapped in April 2017.
Fasken Martineau DuMoulin LLP acted as legal counsel to Lungpacer Medical.
Lungpacer Medical is a clinical stage medical device company pioneering the development of neurostimulation systems designed to exercise and strengthen the diaphragm muscle and reduce complications in critically ill patients who require mechanical ventilation.
photo credit: Lungpacer Medical