ALung Releases its 2014 Year in Review Summary

23 December 2014 Press Release

Pittsburgh, PA (December 23, 2014) – ALung Technologies, Inc., the leading provider of low-flow extracorporeal carbon dioxide removal (ECCO2R) technologies for treating patients with acute respiratory failure, today released its first Year in Review Summary, covering 2014. ALung experienced significant year over year growth in 2014, with utilization of its Hemolung Respiratory Assist System (RAS) increasing three-fold compared to 2013. ALung also experienced strong increases in new customer acquisition, with over 75 hospitals in 19 countries having now treated patients with the Hemolung RAS since its mid-2013 launch.

Commercial Expansion
ALung has made significant commercial progress in both its direct and distributor markets this year. “2014 was an important year for us as we transitioned from a product evaluation phase to full commercial operations,” said Peter DeComo, Chairman and CEO of ALung. “We made the most progress this year, from a product utilization standpoint, in Germany, France, and the United Kingdom where we operate direct sales and clinical support organizations. We have also made significant progress developing our distributor network outside of our direct markets, and those efforts have begun to pay dividends as our distributors develop their markets and secure orders for the Hemolung RAS. We are very pleased to see growing numbers of hospitals routinely using the Hemolung RAS as both an alternative and a supplement to mechanical ventilation.”

Clinical Development
With global interest in extracorporeal technologies continuing to grow, ALung remains committed to supporting the development of clinical data to guide use of extracorporeal carbon dioxide removal in a variety of patient populations. To this end, ALung continued to invest throughout 2014 in a variety of clinical programs, including a key investigator-initiated study of using the Hemolung RAS in moderate ARDS patients to support ultraprotective ventilation strategies. This particular study enrolled fifteen patients at four leading European hospitals. Results of the study will be presented in March at the ISICEM meeting in Brussels.

ALung will further expand its clinical trial programs in 2015, supporting a number of investigator-initiated studies in COPD, ARDS, and other indications of interest.

Product Development
ALung continues to advance its Hemolung technology as recognized by its receipt of the Gold Award in the Critical-Care and Emergency Medicine Category of the 17th Annual Medical Design Excellence Awards (MDEA) competition in June 2014. “We are investing in a number of key product development efforts, including new membrane technologies, improved vascular access kits, pre-connected tubing sets, and new hardware technologies,” said Mr. DeComo. “We have a number of products slated to launch in 2015 that we are really excited about. These advancements will bring a new level of safety, performance, and simplicity to the Hemolung technology which will benefit both patients and users of the device.”

Looking Forward to 2015
2015 promises to be another very exciting year for ALung. While it continues to drive utilization of the Hemolung RAS in established markets, ALung plans further expansion of its distributor network to key emerging markets which have demonstrated strong demand for the Hemolung RAS. “The best is still yet to come for this company,” said Mr. DeComo. “Our core mission is to offer superior products and services that enable physicians to optimize therapy and improve outcomes for patients with acute respiratory failure. We are humbled every time we hear a story of how the Hemolung RAS benefited a patient during a very trying time in their life. This, more than anything else, drives us to keep improving in everything we do.”

About ALung Technologies
ALung Technologies, Inc. is a privately-held Pittsburgh-based developer and manufacturer of innovative lung assist devices. Founded in 1997 as a spin-off from the University of Pittsburgh, ALung has developed the Hemolung RAS as a dialysis-like alternative or supplement to mechanical ventilation. ALung is backed by individual investors and venture firms including Allos Ventures, Birchmere Ventures and West Capital Advisors, LLC.

For more information about ALung Technologies and the Hemolung RAS, visit www.alung.com.

This press release may contain forward-looking statements, which, if not based on historical facts, involve current assumptions and forecasts as well as risks and uncertainties. Our actual results may differ materially from the results or events stated in the forward-looking statements, including, but not limited to, certain events not within the Company’s control. Events that could cause results to differ include failure to meet ongoing developmental and manufacturing timelines, changing GMP requirements, the need for additional capital requirements, risks associated with regulatory approval processes, adverse changes to reimbursement for the Company’s products/services, and delays with respect to market acceptance of new products/services and technologies. Other risks may be detailed from time to time, but the Company does not attempt to revise or update its forward-looking statements even if future experience or changes make it evident that any projected events or results expressed or implied therein will not be realized.

Media Contact:
Scott Morley
Vice President of Marketing and Clinical Affairs
ALung Technologies, Inc.
+1-412-697-3370 ext. 208
smorley@alung.com

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