Maryland’s CSA Medical said last week that it’s close to reaching a $4 million funding goal with a new debt offering.
CSA’s main product is its truFreeze spry cryotherapy, which is designed to use super-cold liquid nitrogen delivered via catheter, to ablate unwanted tissue inside the body.
The Baltimore-based medical device company raised $16 million in a Series C round in 2013, led by Ascension Ventures, that it planned to use to expand its R&D footprint in Lexington, Mass.
For its latest offering, CSA said it raised a little more than $2.9 million of a hoped-for $3.9 million in a debt offering, which also include options and warrants. Some 30 unnamed investors have participated so far, according to a regulatory filing.
Along with Ascension, SV Life Sciences, Intersouth Partners, First Analysis, Boston’s Rose Park Advisors and Blue Heron Capital are among CSA’s backers, according to its website.