CryoTherapeutics has developed an intravascular catheter system that delivers cryoenergy at approximately –10° to –20°C via a console-controlled cooling agent to stabilise high-risk coronary plaque and potentially prevent heart attacks. The company has completed first-in-human studies with follow-up and reports promising early data on safety and feasibility. CoreAlst served as the corelab involved in analysis of the clinical data, and the firm plans to present early human results at CRT in Washington DC and at EuroPCR in Paris. Proceeds from its recent fundraise will support additional clinical evaluation of the technology and the development of a next-generation catheter system for advanced clinical studies and early commercialisation. CryoTherapeutics said it will also use funding to expand its team in Liège. The company was founded by John Yianni, who is a board member of several medical device companies and a partner at Earlybird Venture Capital Health Fund. CryoTherapeutics develops a proprietary intravascular cryotherapy catheter that delivers sub-zero temperatures at its tip to treat inflamed areas of the coronary artery and stabilise atherosclerotic lesions. The company is focused on demonstrating clinical benefit and early-stage commercialization of this cryo-energy technology in cardiovascular disease. It plans to leverage recent imaging breakthroughs to target vulnerable plaques and is commencing its first clinical study focused on treating this disease. Proceeds from the latest financing will fund that clinical study and support development of a next-generation cryotherapy system aimed at commercial launch. The company also intends to expand its team and local partnerships in the Walloon region as it advances development. CryoTherapeutics was established in December 2009 in Germany and located in Awans (Liège) in 2019. CryoTherapeutics develops a proprietary cryotherapy system—an intravascular catheter that delivers sub-zero temperatures at its tip to treat inflamed areas of the coronary artery. The technology aims to stabilize lesions that might rupture and cause heart attacks, positioning the product for treatment of coronary artery disease. The company is focused on development, demonstration of clinical benefit, and early-stage commercialization. It intends to use the €7m Series B funds for clinical activities, further R&D, talent acquisition, international growth and to establish operations at a new facility in Awans, Belgium. Financing came as a mix of equity, debt and grants, including non-dilutive cash advances from the Walloon region (DG06); investors include Noshaq, Peppermint Venture Partners, Creathor Ventures and Getz Brothers. CryoTherapeutics was established in December 2009 and is led by CEO John Yianni. CryoTherapeutics is developing a proprietary cryotherapy system delivered via catheter for treatment of coronary artery disease, including acute coronary syndromes and myocardial infarction. The approach aims in many patients to avoid the use of intravascular stents or scaffolds, thereby maintaining vascular function in the treated vessel. The company intends to advance its catheter-based system into a clinical trial with the goal of achieving CE-mark market approval in Europe. In July 2016 it raised €5.2m in a Series B financing to support that clinical development. The round was led by Creathor Venture and included existing investors. CryoTherapeutics was established in December 2009 by Dr. John Yianni (CEO) and Dr. Maurice Buchbinder (CMO) and is based in Potsdam, Germany. CryoTherapeutics develops a proprietary catheter-based cryotherapy system intended to treat coronary artery disease and prevent heart attacks. The system uses cryoenergy and is designed for use by interventional cardiologists during acute care. The company's initial objective is to demonstrate the clinical benefit of the catheter-based approach in treating heart attack patients. CryoTherapeutics completed an extension to its Series A financing, bringing the total of the round to €6.5m. Established in December 2009 and based in Cologne, Germany, the company is advancing its device toward clinical demonstration. Management is led by Maurice Buchbinder, MD, Chief Medical Officer, and John Yianni, PhD, Managing Director.

Total raised

$43M

Funding rounds

10

Latest round

Series B

Latest activity

Apr 2024