Aethlon Medical

What Aethlon Medical does

Aethlon Medical, Inc. (NASDAQ: AEMD) is a clinical-stage medical device company headquartered in La Jolla, California that is developing the Hemopurifier, an extracorporeal immunotherapeutic cartridge device intended to selectively remove circulating viruses and tumor-derived extracellular vesicles from patient blood. The device is built around a hollow-fiber cartridge containing approximately 10,000 hollow fibers loaded with a proprietary GNA (Galanthus nivalis agglutinin) affinity resin, which binds mannosylated targets on disease-associated extracellular vesicles and viral envelopes. The Hemopurifier is designed to operate with standard hemodialysis or apheresis equipment already in clinical use, and it has received U.S. FDA Breakthrough Device Designations in both oncology and life-threatening infectious diseases. The company is advancing the platform for solid tumors unresponsive or intolerant to standard immunotherapy regimens (anti-PD-1 agents such as Pembrolizumab or Nivolumab), for acute viral infections including Ebola, and — more recently based on a 2025 peer-reviewed preclinical study with UCSF — for Long COVID-associated extracellular vesicle reduction.

The company has not yet generated commercial revenue. Its near-term economics are defined by clinical burn and capital raises: FY2026 net loss was $7.2 million on operating expenses of approximately $7.3 million, both improved materially from the prior fiscal year. The Hemopurifier is currently available only through an Australian oncology clinical trial at Royal North Shore Hospital, with the third and final dosing cohort in progress following positive Data Safety Monitoring Board safety reviews of the first two cohorts. The company holds granted U.S. and European patents covering coronavirus-related applications, a separate patent on methods of removing HIV and other viruses from blood, and maintains collaborative research relationships with UCSF and institutional investors that have funded the platform through multiple public and private placements between 2021 and 2026.

The company's go-to-market posture is consistent with pre-commercial medical device development. Distribution is currently limited to clinical trial sites; upon regulatory approval the company anticipates direct sales to hospitals with dialysis and apheresis capabilities, potentially supplemented by medical device distributors. In March 2026, Aethlon engaged Maxim Group LLC as exclusive financial advisor to evaluate strategic alternatives including partnerships, mergers, acquisitions, or other transactions, signaling openness to inorganic outcomes alongside continued organic clinical development.

Name

Aethlon Medical

Legal name

Aethlon Medical, Inc.

Website

http://www.aethlonmedical.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Aethlon Medical is a clinical-stage medical device company developing the Hemopurifier, an extracorporeal cartridge that selectively removes circulating viruses and tumor-derived extracellular vesicles from blood, targeting immunotherapy-resistant solid tumors, life-threatening viral infections, and Long COVID for hospital and healthcare provider customers.

Ownership category

akta.pro rank

Product category

Extracorporeal Therapeutic Medical Devices

NAICS

Surgical and Medical Instrument Manufacturing (339112), Medical Equipment and Supplies Manufacturing (3391)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Mechanical Circulatory Support (VAD, IABP, ECMO) (HLAHAFAG)

Keywords

• Extracorporeal therapeutic devices
• Immunotherapeutic medical devices
• Oncology blood filtration
• Infectious disease therapeutics
• Clinical-stage medical devices

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Others

Revenue model

1. Pre-Revenue Stage: Aethlon Medical is a clinical-stage company that has not yet generated commercial revenue. The company is focused on developing the Hemopurifier device for regulatory approval. Revenue will be generated upon FDA and international regulatory approvals through device sales to hospitals and healthcare providers for treatment of cancer and infectious diseases.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Aethlon Medical develops the Hemopurifier, a clinical-stage extracorporeal immunotherapeutic device consisting of a hollow-fiber cartridge with proprietary GNA (Galanthus nivalis agglutinin) affinity resin that selectively captures circulating viruses and tumor-derived extracellular vesicles from blood during extracorporeal circulation. The device is intended to treat patients with advanced or metastatic cancer unresponsive to standard-of-care immunotherapy and patients with life-threatening viral infections not addressed with approved therapies. It holds FDA Breakthrough Device designations in both oncology and infectious disease and is currently in clinical trials in Australia.

Product overview

Aethlon Medical is advancing a single core product platform: the Hemopurifier, an immunotherapeutic extracorporeal device. The Hemopurifier is a hollow-fiber cartridge containing GNA (Galanthus nivalis agglutinin) affinity resin that selectively captures circulating viruses and tumor-derived extracellular vesicles from blood during extracorporeal circulation. The company is developing the device for multiple indications including oncology (treating solid tumors unresponsive to immunotherapy) and infectious diseases (including Ebola and Long COVID). The product holds FDA Breakthrough Device Designations in both oncology and infectious disease. The Hemopurifier is designed to be used with standard hemodialysis or apheresis equipment already approved for clinical use.

Differentiator

Problem solved

Functional benefit

Products and services

• Hemopurifier The Hemopurifier is a clinical-stage immunotherapeutic extracorporeal device designed to selectively remove circulating pathogenic targets from biologic fluids, including viruses and tumor-derived extracellular vesicles. It consists of a hollow-fiber cartridge containing approximately 10,000 hollow fibers with proprietary GNA (Galanthus nivalis agglutinin) affinity resin that captures mannosylated disease-associated targets from blood during extracorporeal circulation. The device is intended for use with standard hemodialysis or apheresis equipment already approved for clinical use, and is being developed for oncology (treating solid tumors unresponsive to anti-PD-1 immunotherapy) and life-threatening infectious diseases (including Ebola). It holds FDA Breakthrough Device designations in both oncology and infectious disease and is currently in clinical trials at Royal North Shore Hospital in Australia.

Quantifiable outcome

• Two-fold higher levels of mannosylated extracellular vesicles in Long COVID patients vs. recovered individuals, successfully captured using GNA affinity resin
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• UCSF (University of California, San Francisco)coreStrategic or Co-development Partner · 26 June 2026Collaborative research partnership with UCSF investigators for Long COVID study published in International Journal of Molecular Sciences. UCSF researchers conducted studies demonstrating that Long COVID patients have approximately two-fold higher levels of mannosylated extracellular vesicles compared to recovered individuals, and that these disease-associated EVs can be successfully captured using the GNA affinity resin in the Hemopurifier.
• Royal North Shore HospitalcoreStrategic or Co-development PartnerAustralian clinical trial site for the Hemopurifier oncology study. The hospital is conducting the third and final dosing cohort of the safety, feasibility, and dose-finding study in patients with solid tumors who have stable or progressive disease during immunotherapy regimens including Pembrolizumab or Nivolumab.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Fresenius Medical Care: Fresenius is the world's largest provider of dialysis products and services and operates one of the largest extracorporeal therapy networks. The Hemopurifier is designed for use on standard dialysis/apheresis equipment, positioning Fresenius as a strategic commercial partner.
• Terumo BCT: Terumo BCT is a global leader in blood component collection, therapeutic apheresis, and cell processing technologies. The Hemopurifier is designed to operate on apheresis platforms like Terumo's, making Terumo a natural channel partner or potential acquirer.
• Haemonetics Corporation: Haemonetics provides blood and plasma component management systems, including therapeutic apheresis equipment used in hospital settings. Comparable as an incumbent supplier of the platforms on which the Hemopurifier would run commercially.

Emerging players

• Marker Therapeutics: Marker Therapeutics is a clinical-stage immuno-oncology company developing multi-tumor-associated antigen T-cell therapies for solid tumors. Comparable as a small-cap clinical-stage oncology platform targeting immunotherapy-resistant patient populations—a strategic counterpart for partnership or merger of equals.
• BioXcel Therapeutics: BioXcel Therapeutics is a clinical-stage biopharmaceutical company focused on immunology and neuroscience using AI-driven drug repurposing. Comparable as a small-cap clinical-stage immunology platform, useful as a comp for valuation and strategic optionality.
• SeaStar Medical: SeaStar Medical is developing the Selective Cytopheretic Device (SCD) for hyperinflammation and acute kidney injury in critically ill patients. Comparable as an emerging extracorporeal immunomodulation device with overlapping ICU and infectious-disease applications.
• Immunic Inc. Immunic is a clinical-stage biotech developing oral immunology therapies, including candidates addressing viral disease and inflammatory conditions. Comparable as a small-cap clinical-stage immunology-focused biotech with multiple indications and a similar risk-reward profile.

Direct peers

• ExThera Medical: ExThera Medical markets the Seraph 100 blood filter, an extracorporeal hemoperfusion device that binds and removes pathogens from blood. Directly comparable to the Hemopurifier in mechanism (affinity-based extracorporeal pathogen removal) and target indications (sepsis, viral infections).
• CytoSorbents Corporation: CytoSorbents develops extracorporeal blood purification cartridges (CytoSorb) that remove inflammatory mediators and pathogens from blood in ICU and critical-care settings. Directly comparable to Aethlon's Hemopurifier as a polymer/bead-based therapeutic apheresis device targeting circulating disease mediators.
• Spectral Medical: Spectral Medical develops extracorporeal blood purification therapies, most notably for endotoxemia in sepsis. Highly comparable therapeutic apheresis approach for life-threatening infectious disease indications overlapping with Aethlon's infectious-disease program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds18 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aethlon Medical