Thermedical said it raised $5 million in a Series A2 round for the soft tissue ablation technology it’s developed.
The Waltham, Mass.-based medical device company said the round, led by chairman Samuel Maslak and Karl Johannsmeier, takes its total outside investment to $7 million.
The FDA last year cleared Thermedical’s ablation device, which is designed to coagulate and ablate soft tissue during percutaneous, laparoscopic and intraoperative surgical procedures.
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.
Thermedical said it plans to use the proceeds from its latest round " to hire technical staff, continue funding research into the ablation of solid tumors and ventricular tachycardia, and begin first-in-man studies later this year," according to a press release.
"I continue to be excited about my investment in Thermedical," Maslak said in prepared remarks. "The company has made excellent progress since my first investment last March, and I am optimistic about its growth potential. I believe this innovative technology will truly alter treatment for patients suffering from liver cancer and other solid tumors. It will also deliver an effective solution to cure ventricular tachycardia, a potentially life-threatening arrhythmia of the heart."
