BALTIMORE, July 12, 2011 /PRNewswire/ — CSA Medical, Inc., the
leading developer of novel Spray Cryotherapy devices that flash
freeze and treat diseased tissue inside the body, today announced
that it has completed an oversubscribed $12.6 million Series A
Preferred Stock financing with the addition of a venture investment
from Blue Heron Capital. Proceeds from the financing will be used
to address customer demand and support the launch of CSA Medical’s
new platform technology. The company is also in discussions with
additional institutional investors for Series B funding to
accelerate the development of new product indications.
“This successful financing underscores the significant value
created by our team,” said Bill Floyd, CEO and President of CSA
Medical. “Our goal is to become a leading global provider of Spray
Cryotherapy solutions that treat multiple disease states to improve
patient outcomes, simplify treatment and reduce the cost of
healthcare. This funding helps set the stage to achieve this goal
and commercialize our new platform technology.”
CSA Medical’s technology uses extreme cold liquid nitrogen (-196
C) to provide targeted treatment of diseased tissue inside the
body. The company’s current product platform uses an advanced
endoscopic tool to treat esophageal disease. The Spray Cryotherapy
system is already in use for treating esophageal disease at nearly
80 top-ranked cancer centers and academic teaching hospitals
throughout the United States.
“We are impressed with the strength of CSA Medical’s management
team and the progress the company has made to-date in the GI
space,” said Tom Benedetti, Partner at Blue Heron Capital.
“We believe that Spray Cryotherapy has far reaching potential
and we look forward to supporting the company’s efforts in the
marketplace.”
About CSA Medical
CSA Medical, Inc. develops and manufactures a proprietary
therapeutic interventional platform, the Spray Cryotherapy
Syst
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