Dr. Andy Hoffer: Lungpacer Medical Seeks to Fill Unique Niche in Diaphragm Pacing Market
Lungpacer Medical Inc. is developing a novel therapeutic solution for preserving or restoring the integrity and strength of the diaphragm muscle in critically ill patients who require mechanical ventilation. The proprietary Lungpacer system is designed to activate the diaphragm using a temporary, minimally invasive, transvascular nerve stimulation approach that is expected to save many lives, improve surviving patient outcomes and greatly reduce hospital care costs.
Lungpacer aims to enable and accelerate the recovery of ventilated patients, reduce the hospital care cost of critically ill patients, improve the lifespan and quality of life of survivors of mechanical ventilation and save ICU patients’ lives.
The FDA has granted Lungpacer Medical Inc. Expedited Access Pathyway designation for its patrented Lungpacer Intravenous Electrode Catheter. In 2014, Dr. Andy Hoffer and CEO, Doug Evans raised $5.5 million in private equity funding for proof of concept and completion of preclinical studies and then raised over $9.6 million in 2015 as convertible debt to improve upon the device prototype. Lungpacer has now raised $20 million and hopes to raise another $25 million this year. Lungpacer has clinical trials planned for 2017 and is targeting CE Mark approval in 2018.
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