New Markets Venture Partners and existing investors led a $10 million Series A round of preferred stock financing for CSA Medical, a Baltimore-based company that develops spray cryotherapy devices. Cryotherapy uses liquid nitrogen to precisely destroy tissue within the body. CSA plans to use the funding to expand its product line, which is currently used for treating esophageal disease. The company says that about 7,000 spray cryotherapy treatments have been performed using its technology.
"The Series A Financing eliminated all debt and brings the total investment in our novel, energy-based spray cryotherapy system to $32 million to date," said CEO Bill Floyd in a statement. "This funding will support our efforts to address customer demand as we launch and seek expanded clinical indications for our new platform technology, the truFreeze system"
- here's CSA Medical's release
ALSO: Lexington, MA-based RainDance Technologies has raised a $37.5 million Series D led by a pair of high-profile life science venture groups, giving it some extra cash to help advance its genomic research tools. Report
AND: South Korean biomedical company AnC Bio Holdings made a $4 million equity investment in Bioheart. The company will use the funds to advance the current clinical evaluation of its cell therapies for treating heart failure and related cardiac diseases. Release
PLUS: Nexstim Oy has closed a €11.4 million round of financing. The company, which focuses on noninvasive brain diagnostic and therapy technologies, has raised €30 million total since its inception. Nexstim release