Attune Medical, formerly known as Advanced Cooling Therapy, said today it closed a $10 million Series C financing round to support its Enso esophageal temperature management system alongside revenue growth in North America and market expansion worldwide.
The Chicago-based company touts the EnsoETM as the only patient temperature management system approved for use in the esophageal environment for whole-body temperature modulation including warming and cooling.
The triple lumen system is designed to be inserted into the esophagus, with 2 lumens attached to existing temperature modulation equipment while a 3rd lumen simultaneously allows for gastric decompression and drainage. The company said that the system can be rapidly inserted in a similar fashion to a standard gastric tube, and can be used to control patient temperature in most hospital settings.
“This funding from investors sends a strong statement with respect to their confidence in Attune’s success as well as our opportunity for continued growth. Attune’s proven product requires no additional capital equipment purchase, and we are pleased to report continued adoption by a growing number of major hospitals in the U.S. and around the world,” Attune Medical chief operating officer Keith Warner said in prepared remarks.
The Series C round included participation from newly invested PFG Group and several other private investors and returning investors including Gopher Angels, the Heartland Angels and TWB Investment Partners as well as Attune Medical associates.
“Being located in Minnesota, one of the more significant medical device hubs in the world, our investment team reviews many device investment opportunities,” Gopher Angels founder David Russick said in a press release.
“We are investing significantly in Attune Medical for the third time based on the strength of the company’s continued overall market uptake, increasing use on a per-hospital basis, and accelerating expansion into warming applications in the OR for longer, more involved cases when patient warming is a challenge. We are proud to continue to support Attune Medical’s groundbreaking work in improving temperature control for patients,” Gopher Angels member Paul Hansen said in prepared remarks.
“Attune Medical’s EnsoETM is shifting the paradigm in targeted temperature management solutions in the healthcare space. This simple, cost-effective and safe platform represents a new, and we think better, option for clinicians who need to cool or warm patients,” TWB Investment Partnership member John Schreiner said in a prepared statement.
In April, Attune Medical said it won FDA 510(k) clearance for its EnsoETM with an integrated Altrix precision temperature management system from Stryker (NYSE:SYK).
