University of Maryland, Baltimore-born startup Breethe Inc. is looking to raise about $5 million in new equity funding, according to a recent filing with the U.S. Securities and Exchange Commission. SEC documents showed the medical device firm reported about $3.5 million of its $5 million goal has already been secured, in a round which includes 29 investors so far.
The startup is backed by more $5 million in previous funding, 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.