Chicago-based Advanced Cooling Therapy is planning to break onto the market now that it’s closed a $1.5 million Series A funding round.
ACT is building up to full commercial launch of its Esophageal Cooling Device, which has approval from European and Canadian regulators. The device is not yet cleared for the U.S.
The ECD system is inserted into the esophagus to help moderate patient temperature, designed for use in the operating room, recovery room, emergency room or in intensive care. The device includes 3 enclosed lumens – 2 that attach to temperature management equipment and 1 for gastric decompression and drainage.
The device is the 1st of its kind indicated for full-body temperature management through a single esophageal product, ACT said.
Participants in the funding round included Heartland Angels, Gopher Angels and TWB Investment Partnership, as well as some individual investors, ACT said.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
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