PITTSBURGH, Pennsylvania — ThermalTherapeutic Systems, which is developing a portable device to inject fluids into sections of the body, raised $2.75 million to bring its product to market.
The company in July submitted its application to the U.S. Food and Drug Administration and in August closed on $750,000 in capital. This latest funding would be a “catalyst to launch our technology,” Chief Executive Officer Raymond Vennare stated in a press release.
ThermalTherapeutic’s 29-pound device is a foot high, about a foot deep and about a foot-and-a-half tall. It delivers fluids into the abdomen and chest cavity and can handle a variety of heated and unheated solutions. One of its primary uses would be delivering chemotherapy drugs that could then effectively bathe tissue in the treatment. The device delivers drugs quickly, which can trim the length of a treatment.
Originate Ventures lead this round, and ThermalTherapeutic’s previous investors include the Pittsburgh Life Sciences Greenhouse and Innovation Works.
Vannare once ran a multimedia software business and served as a leading executive in two medical companies: ImmunoSite and TissueInformatics (the latter of which was acquired by digitla pathology company BioImagene in 2006).
Comments
Post a comment
[...] Pittsburgh company developing a portable device to inject fluids into sections of the body, raised $2.75 million to bring its product to market; and Blue Belt Technologies — yet another Pittsburgh company [...]
Comment by Weekend Rounds: Cleveland company aims stem cell therapies at targets : MedCity News — October 3, 2009 @ 2:12 pm
[...] in recent months, including participating in a $2.4 million round for Blue Belt Technologies and a $2.75 million round for ThermalTherapeutic [...]
Comment by 38 Pittsburgh medical companies looking to raise money : MedCity News — October 15, 2009 @ 4:41 pm
[...] sponge where it doesn’t belong, is the latest Pittsburgh company to receive the steady drizzle of venture funding raining on the [...]
Comment by ClearCount Medical the latest Pittsburgh firm to count the cash : MedCity News — October 20, 2009 @ 11:33 am
Post a Comment