ALung Appoints David Motley to its Board of Directors
PITTSBURGH, PA (April 9, 2015) – ALung Technologies, the leading provider of low-flow extracorporeal CO2 removal (ECCO2R) technologies for treating patients with acute respiratory failure, announced the appointment of David L. Motley to the Company’s Board of Directors. Mr. Motley was elected to the Board at the Company’s annual shareholder meeting held on March 26, 2015.
Mr. Motley is concurrently a Senior Managing Director with Headwaters|SC and a General Partner in the BlueTree Venture Fund. In his position with Headwaters|SC, Mr. Motley leads engagements with privately held life science companies that are navigating inflection points that require C-Suite level support on strategy, “keep, sell or partner” decisions or, growth capital. At BlueTree Venture Fund, a fund focused on Series B opportunities, Mr. Motley leads the Life Science portion of the firm’s portfolio.
“David brings to the ALung Board of Directors a wealth of executive management experience,” said Peter DeComo, Chairman and Chief Executive Officer of ALung. “He has been a key leader of teams that have launched new medical technologies in global markets. His strategic insights have already proven valuable, and we are delighted to have a professional of his caliber join our board.”
Prior to his move into private equity and venture capital, Mr. Motley held senior positions at Covidien Surgical Devices, including the position of VP/GM where he had responsibility for franchise management, portfolio management, and strategy for Covidien’s $2 billion portfolio of surgical products. Prior to Covidien, Mr. Motley was the head of Corporate Strategy and VP/GM of Respironics’ Sleep Well Ventures where he secured white space opportunities via acquisitions, equity/convertible debt investments and licensing.
Mr. Motley serves as a director of several companies including First National Bank, Optimal Strategix Group, Gemmus Pharma (board observer), and Heritage Valley Health Systems. Mr. Motley has a BS in Mechanical Engineering from the University of Pittsburgh and an MBA from Harvard University. He resides in Pittsburgh.
Other members of ALung’s Board of Directors include:
- Nicholas Cullen, former Executive Vice President of Bayer Corporation.
- Peter M. DeComo, Chairman and CEO of ALung.
- Gary G. Glausser, Chief Investment Officer of Innovation Works.
- Kraig McEwen, President of Aesynt, (formerly McKesson Automation, Inc).
- Gerald E. McGinnis, founder and former Chairman of Respironics.
- John McIlwraith, Managing Director at Allos Ventures.
ALung Technologies, Inc. is a privately-held Pittsburgh, Pennsylvania based developer and manufacturer of innovative lung assist devices. Founded in 1997 as a spin-out of 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, Blue Tree Venture Fund, the Pittsburgh Life Sciences Greenhouse Accelerator Venture Fund, Riverfront Ventures, and West Capital Advisors, LLC.
For more information about ALung and the Hemolung RAS, visit old.alung.com
ALung Disclosure: This press release may contain forward-looking statements, which, if not based on historical facts, involve current assumptions and forecasts as well 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.
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