Thermedical raised $3 million in a new round of funding, according to regulatory filings. The private company is developing a treatment for ventricular tachycardia, an irregular heartbeat that can result in sudden cardiac arrest, and a treatment for soft tissue conditions, including liver, kidney, lung and uterine tumors.
The company’s ablation system uses saline-enhanced radio frequency, according to Thermedical, to overcome the challenges of traditional ablation tools and to create large, controlled, symmetrical lesions.
The new round, which had its 1st sale on Jan. 13, will bring $700,000 to the company for general working capital, including salary payments to unnamed executives and directors, according to filings.
Thermedical closed its 1st Series A tranche in March 2012, raising $1.5 million. In 2010 the Mass. Life Sciences Center awarded a $500,000 grant, matching a federal small business grant.