CryoTherapeutics GmbH, a German developer of a proprietary cryotherapy system for use in the treatment of coronary artery disease, completed a second closing of its Series A financing round.
This investment brings the total of the Series A round to €3m.
Peppermint VenturePartners (PVP) via its new Charité Biomedical Fund joined the investor consortium.
Its investment adds to the Series A financing round closed in June 2012 by NRW.BANK, High-Tech Gründerfonds (HTGF), private investor Rainer Christine and Getz Brothers.
Established in December 2009 by Maurice Buchbinder, MD, Chief Medical Officer, and John Yianni, PhD, Managing Director, CryoTherapeutics is focusing on developing a novel catheter system, which utilizes cryoenergy to treat and prevent heart attacks. Initially, the company aims to demonstrate the clinical benefit in the treatment of heart attack patients using this catheter-based system that will be utilized by interventional cardiologists.
CryoTherapeutics intends to use the capital to accelerate the completion of the cryosystem.