CSA Medical develops the RejuvenAir System, a liquid nitrogen spray cryotherapy device intended to treat chronic bronchitis in COPD patients. The company says the technology targets overproduction of mucus and damaged cilia by destroying damaged cells without creating scar tissue, enabling regrowth of healthy airway cells. Led by CEO Wendelin Maners, CSA Medical is preparing a comprehensive commercialization strategy and plans a U.S. launch. The company intends to use the new funds to finance that U.S. launch despite an anticipated premarket approval (PMA) from the U.S. Food and Drug Administration. Board additions tied to the financing include Dr. Luc Marengere of TVM and Dr. Deng Mao of Yonjin Ventures. The company positions RejuvenAir as a therapeutic platform for an under-served patient population with chronic bronchitis. CSA Medical develops and manufactures proprietary interventional spray cryotherapy platforms—truFreeze and Rejuvenair—using liquid nitrogen spray delivered by a software‑driven device with specialty catheters to flash‑freeze and destroy unwanted tissue. The company manufactures and distributes the truFreeze system in the U.S., where it is being used in over 100 hospitals and universities to treat conditions such as Barrett’s esophagus, esophageal cancer, and airway obstructions. Its RejuvenAir Metered Cryospray system is designed to ablate mucus‑producing goblet cells while preserving the extracellular matrix and is currently under clinical investigation. Rejuvenair is not yet commercially available as it advances toward clinical and regulatory milestones. Led by Executive Chairman Vincent P. Owens, the company intends to expand commercial adoption of truFreeze in the GI market while progressing Rejuvenair through clinical development. CSA Medical develops the truFreeze spray cryotherapy system that uses super-cold liquid nitrogen delivered via catheter to ablate unwanted tissue inside the body. The company is based in Baltimore. In 2013 CSA raised $16 million in a Series C led by Ascension Ventures, which it planned to use to expand its R&D footprint in Lexington, Mass. CSA is currently pursuing a debt offering targeted at $3.9 million and has raised a little more than $2.9 million to date. The debt offering includes options and warrants and has attracted some 30 unnamed investors so far. Publicly listed backers on the company's website include Ascension, SV Life Sciences, Intersouth Partners, First Analysis, Rose Park Advisors and Blue Heron Capital. CSA Medical develops and manufactures a proprietary interventional spray cryotherapy platform comprised of a device and specialty catheters that deliver extremely cold (-196°C) liquid nitrogen to flash-freeze and destroy unwanted tissue inside the body. The truFreeze System has been used by physicians to ablate tissue in the esophagus and airway and is designed to destroy frozen cells while preserving underlying connective tissue to allow healthy cells to regenerate. The company completed a $16 million Series C financing to support growth and product development. Proceeds will be used to develop new applications, immediately double the sales force, and introduce new products in 2014. The Series C was led by Ascension Ventures and was oversubscribed with all existing investors participating. Tara Butler, MD of Ascension Ventures will join CSA Medical's board, indicating active investor engagement. CSA Medical develops and manufactures the Spray Cryotherapy System, a therapeutic interventional platform that delivers -196°C liquid nitrogen via a device and specialty catheters to freeze and destroy unwanted tissue inside the body. The system is currently used via endoscopic application to treat esophageal disease. Its product is being used at more than 80 top-ranked cancer centers and academic teaching hospitals across the United States. Proceeds from the recent financing will fund post-market clinical studies and ongoing development to support new indications and expanded utilization. Management intends to support the launch of a new platform and pursue new clinical applications, including therapeutic treatments for the airway. The company completed a $20.5 million Series B to support growth and expansion of its patented and currently marketed system.

Total raised

$146M

Funding rounds

9

Latest round

Series D

Latest activity

Sep 2024