CSA Medical Secures $23 Million in New Funding to Advance Cryospray Therapy Platforms

On October 16, 2018, VCBeat (WeChat ID: VCbeat) learned that medical device company CSA Medical announced the completion of a new $23 million financing round. This round included an $8 million equity financing, with participation from existing shareholders Intersouth Partners, Ascension Ventures, and SV Health Investors, as well as a $15 million debt financing provided by Horizon Technology Finance.

CSA Medical will utilize the funds to advance clinical research for its two novel cryospray therapy platforms, truFreeze and RejuvenAir: advancing research on truFreeze® spray cryotherapy for esophageal diseases, expanding and commercializing the truFreeze product line in the gastrointestinal (GI) market, and launching the Reo radial catheter for Barrett’s esophagus (a precursor to esophageal cancer) in 2019; and advancing the CE marking and pivotal clinical studies for the RejuvenAir® spray cryotherapy system for COPD (chronic obstructive pulmonary disease), planned for 2019.

Image from the official website of CSA Medical

truFreeze® is a patented interventional spray cryotherapy platform developed and manufactured by CSA Medical. This software-driven system utilizes specialized catheters to deliver a unique liquid nitrogen spray, which rapidly freezes and ablates pathological tissues in vivo, thereby treating patients and restoring their health. CSA Medical manufactures and markets the truFreeze® system in the United States. Currently, the system is employed in over 100 leading hospitals and universities, providing treatment for conditions such as Barrett’s esophagus, esophageal cancer, and airway obstruction. The truFreeze® system received FDA clearance in 2017, coinciding with the launch of its third spray accessory, the Rapid AV Spray Kit. The material properties of the Rapid AV catheter reduce liquid nitrogen spray time by 50%.

CSA Medical’s RejuvenAir® metered Cryospray™ system delivers circular sprays of liquid nitrogen at -196°C within the airways, rapidly freezing the epithelial cells lining the airway walls. This process destroys mucus-producing goblet cells while preserving the extracellular matrix, thereby facilitating the regeneration of healthy cells. According to recent reports from the European Respiratory Society (ERS) Congress held in Paris, the RejuvenAir® platform therapy demonstrates excellent safety and tolerability, with minimal incidence of adverse events or serious adverse events. Patients receive treatment in a bronchoscopy suite and can be discharged on the same day, without requiring hospitalization. The RejuvenAir® system is currently undergoing clinical studies and has not yet been commercialized.

Ellen Sheets, M.D., CEO and President of CSA Medical, stated, “We are pleased that the truFreeze platform has received FDA approval, which will help us expand the product line of the truFreeze system. With the addition of the rapid AV spray kit, the truFreeze platform will be able to significantly reduce physicians’ procedure times.”

CSA Medical (formerly Crymed Technologies), founded in 1993 and headquartered in Maryland, USA, specializes in the development and manufacturing of proprietary interventional spray cryotherapy platforms. This technology enables physicians to freeze, destroy, and remove pathological tissue. Currently, CSA is producing and marketing the truFreeze® device for the treatment of benign (such as Barrett’s esophagus and high-grade dysplasia) or malignant lesions.