CSA Medical, a provider of spray cryotherapy technology, has closed on $16 million in an oversubscribed Series C financing led by Ascension Ventures, with participation from all existing investors. The fresh funding, which brings the company’s total backing to over $68 million, will support the development of new applications for its truFreeze system, the doubling of its sales force and the introduction of new products in 2014.
The company’s truFreeze System is currently used by physicians to ablate a variety of unwanted tissue inside the body, such as in the esophagus and airway. The device delivers extremely cold liquid nitrogen through a small catheter to flash-freeze targeted tissue. This process destroys the frozen cells without disturbing the underlying connective tissue, thereby allowing healthy cells to regenerate over time.