CryoTherapeutics Secures €7 Million in Series B Funding to Advance Cryotherapy Clinical Trials for Coronary Artery Disease

German biotechnology company CryoTherapeutics announces completion of €7 million Series B financing round. The round was led by Belgian public investor Noshaq (formerly Meusinvest), with participation from Peppermint Venture Partners, Creathor Ventures, and Getz Brothers. Proceeds from this financing will advance the company’s clinical trials on cryotherapy for coronary artery plaque and establish operations at its new facility in Belgium.

CryoTherapeutics was founded in December 2009 by a team of entrepreneurs from the United Kingdom, the United States, and Canada, with its headquarters located in Germany. The company’s initial seed funding was provided by the founders and the private investor High-Tech Gründerfonds.

CryoTherapeutics’ core business is the development and commercialization of its proprietary cryotherapy system for the treatment of coronary artery disease that leads to heart attacks. The company’s flagship product is an intravascular catheter capable of delivering anti-inflammatory medications at subzero temperatures to stabilize atherosclerotic lesions, thereby preventing their progression and subsequent myocardial infarction.