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Vivonics Sells Artificial Lung Technology - Vivonics, Inc. announced the sale of its Artificial Lung technology to Lung Biotechnology PBC, a wholly-owned subsidiary of United Therapeutics Corporation
Vivonics Sells Artificial Lung Technology

 

NewswireToday - /newswire/ - Sudbury, MA, United States, 2016/02/03 - Vivonics, Inc. announced the sale of its Artificial Lung technology to Lung Biotechnology PBC, a wholly-owned subsidiary of United Therapeutics Corporation.

   
 
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Vivonics, Inc. announced today the sale of intellectual property and other assets related to its Artificial Lung technology to Lung Biotechnology PBC, a wholly-owned subsidiary of United Therapeutics Corporation. Vivonics’ development of the Artificial Lung technology was supported by the National Heart, Lung and Blood Institute of the National Institutes of Health under grant number 6R44HL091593-04. Several members of Vivonics’ Artificial Lung development team have joined Lung Biotechnology to continue development of the technology. Financial terms of the transaction were not disclosed.

Vivonics’ founder, President and CEO, Gordon B. Hirschman commented: “We are excited about putting this technology in the hands of Lung Biotechnology, which is well positioned to continue its development with the goal of bringing artificial implantable lungs to market. When I founded Vivonics in 2012, our mission was to perform development of such advanced medical technologies and to find a path for them to be commercialized as products that can help mankind. This transaction is evidence of the success of our team in this pursuit.”

Vivonics develops medical technologies that improve human health and performance. More information about Vivonics is available at vivonics.com/.

 
 
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Written by / Agency / Source: Vivonics, Inc.

 
 

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Vivonics Sells Artificial Lung Technology

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Publisher Contact: Gordon B. Hischman - Vivonics.com 
781-373-1930 ghirschman[.]vivonics.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Vivonics, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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