|[December 20, 2013]
CSA Medical Completes $16 Million Series C Financing
BALTIMORE --(Business Wire)--
Medical, Inc., the leading provider of advanced spray cryotherapy
technology that flash freezes unwanted tissue inside the body, today
announced that it has closed a $16 million Series C financing led by
Ascension Ventures (AV). The financing round was oversubscribed with all
existing investors participating, including SV Life Sciences, Intersouth
Partners, First Analysis, Blue Heron Capital, Rose Park and Guide
Medical Ventures. Tara Butler, MD, Managing Director at AV, will join
the CSA Medical Board of Directors.
"The addition of Ascension Ventures to our highly experienced investor
base validates the significant opportunity to advance patient care with
truFreeze spray cryotherapy," said Bill Floyd, CEO and President of CSA
Medical. "This funding will support the development of new applications
and enable us to meet the growing clinical demand for our truFreeze
system by immediately doubling our sales force and introducing new
products in 2014."
The truFreeze System is currently being used by physicians to ablate a
variety of unwanted tissue inside the body such as in the esophagus and
airway. Te device delivers extremely cold liquid nitrogen spray through
a small catheter to enable physicians to flash-freeze targeted tissue.
This process has been shown to destroy the frozen cells without
disturbing the underlying connective tissue, thereby providing a
framework for healthy cells to regenerate over time.
"The truFreeze technology has the potential to advance the treatment of
multiple disease states and improve the quality of life for patients
while reducing the cost of care," said Dr. Butler. "We are impressed
with the unique mechanism of action behind liquid nitrogen spray
cryotherapy and the extensive work that CSA Medical has underway to
develop new applications. The strength of the technology and management
team, combined with our limited partners' expertise as leading
healthcare providers, make this a highly attractive investment
opportunity for us."
About CSA Medical
CSA Medical, Inc. develops and manufactures a proprietary interventional
spray cryotherapy technology platform comprised of a device and
specialty catheters that enable delivery of spray cryogen inside the
body to flash freeze and destroy unwanted tissue. The Company is the
first to harness the power of low pressure, extremely cold (-196o C)
liquid nitrogen inside the body. To learn more, please visit www.csamedical.com.
About Ascension Ventures
Ascension Ventures (www.ascensionhealthventures.org)
was launched in 2001 as a wholly owned subsidiary of Ascension Health.
Today it is a subsidiary of Ascension, a parent holding company formed
in 2012. Ascension Ventures' role has been to construct and manage a
strategic portfolio of investments that deliver venture level investment
returns, have the potential to transform the healthcare industry and
significantly enhance the experience for patients, their families and
their caregivers. Ascension Ventures has three venture funds with $550
million in committed capital under management and its limited partners
include Ascension, Catholic Health East, Catholic Health Initiatives,
Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare and
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