CellAegis Devices, Inc., a Toronto, Canada-based medical device company, closed a US$9.5m Series C funding.
The round was led by CTI Life Sciences Fund, and co-led by a U.S. based strategic investor with participation from MaRS Catalyst Fund, Broadview Ventures and strategic family offices. In conjunction with the funding, Dr. Shermaine Tilley, Managing Partner in CTI Life Sciences Fund, and an appointee from the US Strategic, will join CellAegis’ board of Directors. Christopher Colecchi, from Broadview Ventures’, will also serve as a Director.
The company intends to use the funds to conduct a U.S. clinical trial and de novo 510(k) regulatory filing for marketing of its autoRIC Device as an adjunct therapy to stenting.
Led by Rocky Ganske, Chief Executive Officer, CellAegis Devices has patented and developed the non-invasive autoRIC Device, which delivers Remote Ischemic Conditioning (RIC) therapy to patients with acute and chronic cardiovascular conditions. This medical procedure protects the heart as well as other organs from ischemia and reperfusion injury. Developed from the clinical work of Dr. Andrew Redington and colleagues at the Hospital for Sick Children in Toronto, and funded in part by the Fondation Leducq’s Transatlantic Networks of Excellence. The autoRIC Device has CE Mark and Health Canada approvals for treatment during heart attacks, cardiothoracic or surgical procedures.