Advanced Cooling Therapy (ACT), a Chicago, IL-based emerging medical device company, closed a $1.5m Series A financing round.
Backers included Heartland Angels, Gopher Angels and TWB Investment Partnership along with several individual investors.
The company intends to use the funds to support the full commercial launch of its first product, the Esophageal Cooling Device (ECD) to control patient temperature.
Led by President and Co-Founder, Erik Kulstad, MD, MS Advanced Cooling Therapy offers the ECD, a single use, fully-enclosed triple lumen system that is inserted into the esophagus to modulate and control patient temperature when clinically indicated. Two lumens attach to existing temperature modulation equipment while a third lumen simultaneously allows gastric decompression and drainage. The ECD can be rapidly inserted by most trained health care professionals and can be used to control patient temperature in the operating room, recovery room, emergency room, or ICU.
The device has a CE mark for commercial sale in Europe and is licensed for sale in Canada as well. The ECD is pending clearance from the FDA for use in the US.