DoD awards $2 million grant for burn treatment research to AREVA

SAN ANTONIO/DENVER - The U.S. Department of Defense has awarded a $2 million grant to the Autonomous Reanimation and Evacuation (AREVA) Research Institute to study treatments for severe burns and related injuries in warfighters, according to a press release statement. The grant represents a significant opportunity for SeaStar Medical (NASDAQ:ICU), a micro-cap company currently valued at $13.2 million that maintains a stronger balance sheet than many peers, holding more cash than debt.

The three-year research study, set to begin in July 2025, will explore the use of SeaStar Medical’s (NASDAQ:ICU) Selective Cytopheretic Device (SCD) therapy to reduce hyperinflammation in patients with severe burns, inhalation injury, and septicemia. According to InvestingPro data, analysts anticipate sales growth of 7.46% for the company in the current year, with the stock showing counter-market movement tendencies with a beta of -0.87.

The grant was one of four selected from 160 submissions by the 2024 Military Burn Research Program. The Geneva Foundation will provide research administration and operational support for the program at the AREVA Institute in San Antonio, Texas. For investors seeking deeper insights into SeaStar Medical’s potential, InvestingPro offers comprehensive analysis with 8 additional ProTips and detailed financial metrics in its Pro Research Report, available exclusively to subscribers.

Andriy Batchinsky, MD, Principal Investigator and Founder of AREVA, said the collaboration with SeaStar Medical "has the potential to be one of the most impactful" in his 25-year research career.

The SCD therapy is designed to be used alongside continuous renal replacement therapy to neutralize hyperinflammation and support organ recovery in patients with severe acute inflammatory conditions.

Kevin Chung, MD, Chief Medical Officer of SeaStar Medical, called the DoD award "a major vote of confidence" for both the AREVA Institute and the potential of SCD therapy in treating critically wounded service members.

The grant will cover the purchase of the SCD therapy from SeaStar Medical for use in the research study. The companies are also exploring expanded applications of the technology beyond the initial study.

In other recent news, SeaStar Medical Holding Corporation reported a notable increase in revenue for the first quarter of 2025, reaching $293,000, a fourfold rise from the previous quarter. The company also managed to narrow its net loss to $3.7 million from $12.7 million in the same period last year. SeaStar Medical’s financial results reflect growing adoption of their Quellimmune therapy, particularly in pediatric acute kidney injury (AKI) markets. Additionally, the U.S. Centers for Medicare & Medicaid Services (CMS) announced coverage for expenses related to the NEUTRALIZE-CRS clinical trial, following a similar decision for the NEUTRALIZE-AKI trial. This coverage supports trials for SeaStar Medical’s Selective Cytopheretic Device (SCD) therapy, which has received Breakthrough Device Designation from the FDA. The company is actively preparing for potential commercialization, engaging third-party reimbursement experts to support CMS and private payer coverage. Analyst firms have shown interest in the company’s strategic direction, with some expressing confidence in its market opportunities.

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