The following press release was submitted to the digital news media outlet through its business wire service
FRAMINGHAM – Alira Health, an international healthcare and life sciences advisory firm, announced this week X-COR Therapeutics for closing a $2.6 million seed financing to continue developing its novel extracorporeal carbon dioxide removal device toward clinical trials.
Alira Health’s investment arm, Alira Health Ventures, added X-COR Therapeutics in 2019 as a portfolio company and led the recent seed financing with syndication from Good Growth Capital, PiSA Biopharm, Flybridge Partners’ Graduate Syndicate, and other notable angel investors.
“X-COR Therapeutics is continuing to develop its novel filtration system and compatible dialysate strategy for clinical testing and regulatory assessment. Working with the Alira Health Ventures team generated additional momentum for X-COR to advance development during the COVID-19 pandemic and the addition of Gabriele Brambilla to our board further accelerates our progress,” said Jayon Wang, CEO of X-COR.
“We are pleased with the X-COR team’s progress through this unprecedented year and are proud to work with such an elite investor group supporting this important technology,” said Gabriele Brambilla, Alira Health’s CEO. “Alira Health Ventures is dedicated to nurturing innovative technologies and propelling development from concept to clinical evaluation for future commercialization. X-COR’s technology will be transformational in the lives of patients suffering from respiratory failure, and this funding is a key milestone in accelerating the development of this vital technology.”
X-COR Therapeutics is a Boston-based medical device company creating the first commercially available carbon dioxide removal device that uses ultra-low-blood flows for a cheaper, safer, and more accessible treatment for acute respiratory failure. X-COR’s novel technology is a patent-pending medical device and accompanying control algorithm that enables physicians to directly remove excess carbon dioxide from lung failure patients.
As part of Alira Health, Alira Health Ventures is an accelerator for an innovative group of portfolio companies positioned to launch the next breakthrough technologies in medical devices and pharmaceuticals. From discovery to commercialization, Alira Health Ventures invests in products that advance healthcare and impact patients’ lives. Alira health is located in downtown Framingham.