Early stage med device developer Qool Therapeutics said today it raised $8 million in a Series A-1 round to support development and trials of its Qool device designed for targeted temperature management and exercise recovery.
Joining the funding round was Zhongji Holdings and Join Medical Technology, Tampcap LLC, BrilliMedical International, BioPacific Investors, Western Technology Investment and FundRx, the Silicon Valley-based company said.
Qool Therapeutics said that in addition to the funding, it has also received an award from the US Department of Defense’s Defense Innovation unit Experimental organization.
The company’s Qool device is designed for targeted temperature management and exercise recovery and is intended for use with multiple conditions. Those conditions include cardiac arrest, acute myocardial infarction, stroke, traumatic brain injury, cardiogenic shock, status epilepticus, encephalitis, meningitis, burns, heat stroke, hyperthermia and sepsis and as a protective adjunct for vascular surgery.
The system is comprised of a control unit and delivery tube designed to deliver frozen saline particles to the lungs, using the large surface area of the lungs to direct blood flow to the heart and brain and cool the body, the company said.
“By adding these premier new investors to the company, we can quickly accelerate our product development efforts. Our technology is designed to be non-invasive, rapid, and compatible with the flow of patient care, so as not to interrupt the primary treatment,” prez & CEO Beverly Huss said in a press release.
Funds from the round will support complete product development and for initial groundwok on first-in-human trials of the Qool device.