Additionally, former chairman of Respironics, Gerald McGinnis, has committed to provide up to $1.8 million in the form of convertible debt for bridge funding, to allow the company to complete necessary R&D of its Hemolung device, as it readies for 2009 clinical trials.
Nick Kuhn, who has served as CEO of ALung since 2001 and was instrumental in bringing Mr DeComo and Mr McGinnis into their current roles, will assume the role of COO for ALung.
Mr DeComo was chairman, CEO and co-founder of Renal Solutions (RSI), a vertically integrated medical device and service company. When RSI was acquired by Fresenius Medical Care Holdings in November 2007, he became CEO of the wholly owned subsidiary.
Mr Kuhn joined ALung in November 2001, was the key driver in raising $13 million in funding for the company, and guiding the successful development of the Hemolung and the Hattler catheter to clinical trials, the company said. In this role, he will continue to stay actively involved in driving R&D, manufacturing, regulatory and clinical affairs, and eventual commercialization of the Hemolung system.