BBJ: UMB Startup Raises $3 Million, Adding to Big Year
Thursday, December 28, 2017
A Baltimore startup developing artificial organ technology has raised about $3 million in equity funding, according to U.S. Securities and Exchange Commission documents.
Medical device firm Breethe Inc. reported the round this month, which included 22 investors.
This is the second funding filing of the year for Breethe, a company based at the University of Maryland, Baltimore's BioPark. According to an SEC document filed in August, the startup previously reported seeking $3.6 million, of which $1.1 million had already been raised by the time of the filing.
Breethe is developing a wearable artificial lung that patients can take home with them from the hospital. The company was founded by Dr. Bartley Griffith, a transplant surgeon at the University of Maryland Medical Center, who has been working on the tech for about 20 years.
Click here to read the rest of the story via Baltimore Business Journal.