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.
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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