Attune Medical (fka Advanced Cooling Therapy), a Chicago, IL-based medical device company, closed a $10m Series C financing.
Backers included Gopher Angels, the Heartland Angels, and TWB Investment Partners, Attune Medical associates and new investor PFG Group.
The company intends to use the funds for continued revenue growth in the North American market and expansion across key markets worldwide of its EnsoETM esophageal temperature management product line.
Led by CEO Erik Kulstad, and COO Keith Warner, Attune Medical has developed proprietary medical device technology that simplifies access to the patient’s core to efficiently control core temperature. Whether warming or cooling, the company optimizes patient temperature safely. Attune’s initial product, the EnsoETM (formerly Esophageal Cooling Device or ECD), is designed to modulate and control patient temperature through a single-use, fully-enclosed system that is inserted into the esophagus. Two lumens attach to an external heat exchange unit while a third, independent, lumen simultaneously allows gastric decompression and drainage. The EnsoETM can be rapidly placed by most trained healthcare professionals, in similar fashion to a standard gastric tube, and can be used to control patient temperature in the operating room, recovery room, emergency room, and/or intensive care unit.
The company received US FDA de novo clearance for the EnsoETM (Esophageal Cooling Device or ECD) in 2015 for use with the Medi-Therm III by Stryker® and FDA 510(k) clearance in 2016 for use with the Blanketrol® II and III Hyper-Hypothermia systems made by Cincinnati Sub-Zero, a Gentherm Company, and FDA 510(k) clearance for use with the Altrix System by Stryker® in 2017.
It received its CE Mark in Europe in 2014, with an expanded indication for use up to 120 hours in 2016 and a CE Mark for use with the Altrix System by Stryker® in 2017.
It is also licensed for sale in Canada and Australia.