ThermalTherapeutic Systems, Inc., developers of a platform technology to standardize hyperthermic perfusion, completed its $2.75M Series A financing round led by Originate Ventures.
The funds will be used to promote the commercialization of ThermalTherapeutic Systems proprietary new technology.
The company had received initial start-up funding by the Pittsburgh Life Sciences Greenhouse, and successful rounds of private financing which included follow-on investments by the Pittsburgh Life Sciences Greenhouse and Innovation Works.
Commenting on the financing, Raymond F. Vennare, Co-Founder and CEO of the Pittsburgh, PA.-based company, said: “Originate Ventures’ financial support of our strategic objectives marks a significant milestone in our company’s development. In July we submitted our application to the FDA, in August we closed on $750,000 in private financing and, in September, Originate Ventures recognized that their investment would be the catalyst to launch our technology”.