Peter DeComo Raised Over $100 Million to Develop Artificial Lungs

Pete DeComo is the chairman and CEO of ALung Technologies. ALung is developing an artificial lung for patients suffering from Acute Respiratory Failure and has raised over $100 million to bring their product to market.

ALung’s Hemolung Respiratory Assist System is a dialysis-like alternative or supplement to mechanical ventilation that works by removing carbon dioxide directly from the blood. The medical device, which has been approved for use in 35 countries outside the U.S., has proven relevant during the 2020 Pandemic.

Prior to running ALung, Pete was the founder and CEO of Renal Solutions. Renal Solutions developed of similar product focused on kidney dialysis and was sold to Fresenius in 2007 for $200 million.

In this conversation, Pete discusses the arduous process of getting a medical device approved by regulators, how he has raised over $140 million for his companies, and his advice for all entrepreneurs.

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Time Stamps

0:00 Peter DeComo Intro
1:51 ALung’s Purpose
5:35 Changes in the Last Decade
7:05 Medical Device Investment
8:15 Clinical Trial Halt
9:43 COVID-19 Treatment Opportunity
12:44 Accelerated Path to Approval
15:25 Relationship w/ FDA
21:29 Innovation Process
25:18 Openness with Investors
28:33 Renal Solutions
29:40 Evolution of Venture Capital
36:16 The Valley of Death
43:13 Connect w/ ALung
44:10 Peter DeComo’s Challenge to the Audience

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Edited by Kelsee McHugh
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🕺Aaron Watson, Chief Executive Officer of Piper Creative

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Aaron has an obsession with storytelling, business building, and creating media that leads to sales.

Aaron’s experience in media creation and strategy started at the age of 23 when he launched a podcast, Going Deep with Aaron Watson. In the subsequent 3 years, he has built a powerful network, executed profitable events around Pittsburgh, and started a paid public speaking career on the back of his digital media brand building.

As the co-founder of Piper Creative, Aaron is passionate about leveraging his expertise to help others build healthier company cultures, execute effective storytelling, and master the distribution of their content.

🧑🏻Hannah Phillips, Chief Creative Officer of Piper Creative

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Hannah is our brilliant visual media artist that produces genre-defining work across digital video, photography, graphic design, and fine art.

From an early age, she developed a love for art and creating, and has grown those passions into hard skills that build businesses.

She started her first media company in 10th grade and was dedicated to growing it part-time throughout high school.

At Piper Creative, she guides and mentors the next generation of creatives while leveraging their skills to transform brands and drive business outcomes.