Emergent Respiratory Products Inc. (Irvine, CA, U.S.) announced it has received U.S. $5.3 million in venture capital financing. The round was led by Shepherd Ventures (San Diego, CA, U.S.), a life science and technology investment company, and included participation by Grayhawk Venture Partners, a Phoenix, AZ, U.S. based investment company, and POSCO BioVentures, (Carlsbad, CA, U.S.), a medical device and platform technologies investment firm.
Emergent Respiratory Products has developed CPAPos "Oxygen Saver," a medical device technology platform said to assist breathing for sufferers of acute respiratory distress and other forms of dyspnea (difficulty breathing).
The company's proprietary CPAPos is said to provide Continuous Positive Airway Pressure and addresses breathing difficulties differently from its competition. CPAPos "Oxygen Saver" reportedly delivers oxygen on-demand and uses a patented positive pressure facemask to improve comfort.
"With relatively few companies securing funding in today's investment climate, this round of institutional financing presents an outstanding opportunity to grow our business," Greg Wood, president and CEO said. "The funds will be used to address the substantial customer demand for our products and to accelerate manufacturing, sales, and marketing programs."
Emergent's products are used by emergency medical services (EMS) paramedics in pre-hospital emergencies and by healthcare professionals in hospital emergency departments.
"It is our vision that this funding will propel Emergent Respiratory Products to establish itself as the preeminent market leader in the early intervention and treatment of all acute respiratory distress in EMS and emergency department settings," said Anthony Gambone, vice president of Sales and Marketing.
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