VQ Biomedical secures $5M, including a seed round led by Harbright, WIN, and DCP
NOTE: VQ Biomedical is a Duke University start-up and DCP portfolio company resulting from the collaboration of Assistant Professor Tobias Straube (Pediatrics, SOM), Research Scientist Stewart Farling (CEE, Pratt), Professor Marc Deshusses (CEE, Pratt), and colleagues. This press release first appeared on the VQ Biomedical website.
RALEIGH-DURHAM, NC
– March 27, 2025 –
VQ Biomedical, a medical technology company developing an innovative oxygenation catheter for treating acute respiratory distress syndrome (ARDS), has closed a $1,650,000 financing round. The investment is led by Harbright Ventures, the Wolfpack Investor Network (WIN), and Duke Capital Partners (DCP) with a collective $970,000 investment. VQ is a Duke University spin-out, with intellectual property developed as a collaboration between Duke University School of Medicine and the Pratt School of Engineering.
In addition to this equity funding, VQ has received a $750,000 contract through the Biomedical Advanced Research and Development Authority’s Division of Research Innovation and Ventures Healing Lungs initiative and a $2.4 million Small Business Innovative Research agreement with the Defense Advanced Research Projects Agency (DARPA). This funding will allow VQ to develop a commercial prototype, which can be tested for safety and efficacy in an in vivo mode to support future Investigational Device Exemption submissions.
ARDS is a life-threatening condition where the lungs fill with fluid, often due to severe infection or trauma. The condition affects about 390,000 adults annually in the U.S. and European Union, with a mortality rate of 27-45%. Treatment options include mechanical ventilation and extracorporeal membrane oxygenation (ECMO) but come with significant risks and costs. Mechanical ventilation may lead to ventilator-induced lung injury and may not adequately support oxygenation. ECMO, used for severe cases, extracts blood, oxygenates it through a machine, and returns it to the body. However, this process is expensive and complex, requires specialized personnel, carries infection and bleeding risks, and is only available in about 10% of US hospitals.
VQ’s oxygenation catheter offers a novel alternative for ARDS treatment by directly delivering oxygen into the bloodstream, minimizing the risks and costs associated with traditional therapies. Initially, it could replace venovenous (VV) ECMO for severe ARDS. Long-term, VQ seeks to reduce reliance on mechanical ventilation for all ARDS patients, resulting in safer ventilation, more ventilator-free days, and shorter ICU stays.
“Duke, initially through the leadership and guidance of Duke New Ventures and then through an early investment from DCP in this round, has been a fantastic place to transform VQ Biomedical from an idea into a venture-worthy business,” said Galen Robertson, CEO of VQ Biomedical. “The addition of WIN and its venture partner, Harbright Ventures, nearly doubled our overall investment and connected us with Harbright’s leaders, John Leachman and Robert Ross, and their network of early-stage MedTech investors.”
VQ’s catheter effectively delivers significant oxygen levels in early proof-of-concept large animal studies. The company’s catheter design aims to enable bedside insertion with a single dial for oxygen flow, simplifying use compared to ECMO. The company has been awarded a $750,000 contract through BARDA’s Healing Lungs program. The North Carolina Biotechnology Center has supported VQ with a $300,000 Strategic Growth Loan. Most recently, DARPA announced a $2.4 million contract with VQ to make its device smaller, more efficient and easier to use in resource restricted environments, such as in military deployments.
“It’s inspiring to see such a promising advancement in ARDS treatment,” said Abby Phillips, WIN’s Director. “VQ’s innovative catheter system could be a game-changer in critical care, and we’re excited to support their mission to improve patient outcomes and save lives.”
“Duke Capital Partners and the Duke community are excited to support this innovative medical device startup,” said Kurt Schmidt, Managing Director of Duke Capital Partners. “We’re particularly proud that Toby, Galen, and the team are growing VQ in the Triangle, tapping into our tight-knit biotech entrepreneurial community.”
CEO Galen Robertson is a serial entrepreneur with 20 years experience in medical devices. Chief Medical Officer Tobias Straube, M.D., an expert in mechanical ventilation and ECMO with extensive experience treating critically ill patients with ARDS, is an Assistant Professor of Pediatrics at Duke. Lead Engineer Stewart Farling, Ph.D., an expert in oxygen and small molecule transport, completed his Ph.D. research at Duke and holds a B.S. and M.S. in Environmental Engineering from North Carolina State University. Principal Scientist Marc Deshusses is Professor of Civil and Environmental Engineering at Duke with extensive experience in gas-liquid mass transfer optimization. Scientific Advisor Bruce Klitzman is emeritus faculty in Surgery and Biomedical Engineering at Duke. DCP member Joseph Knight, who led DCP medical device portfolio company InnAVasc through its successful acquisition by Gore, will serve on VQ’s board. John Leachman also will serve as a board observer.
About VQ Biomedical
VQ Biomedical is at the forefront of respiratory care innovation, developing a groundbreaking, minimally invasive catheter designed to deliver supplemental oxygen directly into the bloodstream for hospitalized patients with respiratory failure. VQ’s Intravascular Oxygenation Catheter offers a transformative approach to respiratory support. Unlike mechanical ventilation, it seeks to enable gas exchange independent of the injured lungs, allowing them to rest, heal, and recover. Moreover, unlike VV-ECMO, VQ’s catheter intends to achieve oxygenation without requiring the patient’s blood to be pumped outside the body, ensuring a safer, more efficient, and less invasive solution. This project has been supported in part with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority, under contract number 75A50124C00026, and in part with federal funds from the Defense Advanced Research Projects Agency under agreement number HR00112590069.
Learn more at: vqbiomedical.com.
About Duke Capital Partners
Duke Capital Partners is the early-stage venture investment arm of Duke University. Duke Capital Partners leverages the power of the global Duke community to invest in and support entrepreneurs, to educate and empower students, and to engage and activate its members’ contributions to the University’s innovation ecosystem.
Learn more at: dukecapitalpartners.duke.edu.
About Harbright Ventures
Harbright Ventures is an early-stage investment group committed to nurturing extraordinary ideas and delivering exceptional outcomes for stakeholders through disciplined and transparent processes. With a rigorous approach to due diligence, a robust investment philosophy, and an experienced team, Harbright ensures sound decision-making and strategic growth. Harbright’s member-driven focus fosters collaboration and success, while our commitment to transparency builds trust at every stage. As a sector-agnostic firm with a proven track record of success, Harbright embraces opportunities across diverse industries to drive innovation and create lasting impact.
Learn more at: harbrightventures.com.
About Wolfpack Investor Network
The Wolfpack Investor Network (WIN) is North Carolina State University’s official angel investing platform. WIN serves as a critical conduit connecting NC State alumni, faculty, friends, and emerging startups by providing mentorship, resources, and capital to foster the development and success of ventures affiliated with NC State.
Learn more at: research.ncsu.edu/win.
Media Contact
Galen Robertson
CEO, VQ Biomedical
galen.robertson@vqbiomedical.com