Healthcare Industry News: temperature management
News Release - December 27, 2006
Dynatherm Medical Adds $3.25 Million to Close Series A Round
Company to Focus on Completing Next-Generation VitalHeat(TM) vH2 temperature management SystemFREMONT, Calif.--(HSMN NewsFeed)--Dynatherm Medical, Inc., an innovator in temperature management for surgical and critically ill patients, announced today that it has closed a $3.25 million final tranche of their Series A round of financing. Led by Sanderling Ventures and ArchAngel BioVentures, this investment brings the total Series A funding to $7.25 million.
Scott Christensen, CEO of Dynatherm, said, "I am happy to announce the expansion and closure of our Series A round. We are very pleased that our current investors have stepped forward with this additional investment. The funds raised will allow us to accelerate development of our next-generation VitalHeat vH2(TM) system, which we plan to complete by mid 2007."
"We see this investment as a way to continue to participate in an under-exploited market segment with a company that offers a truly differentiated and compelling technology. With a solid management team in place and the potential of the company's CTR technology platform, Dynatherm is poised to exploit additional markets downstream," said Sanderling Managing Director and Dynatherm Chairman Timothy Mills.
Based on Dynatherm's patented Core Thermal Regulation(TM) (CTR) technology and the VitalHeat platform, the second-generation VitalHeat vH2 system noninvasively maintains normothermia in patients undergoing surgery or in other critical care settings. Unlike existing warming technologies, the vH2 system utilizes heat and vacuum to open anatomical structures in the hands and feet known as arteriovenous anostomoses (AVAs), to send warmed blood directly to the body's core. The VitalHeat system provides a level of thermal transfer (heat) unseen in the marketplace today, and does not require large areas of the patient's body to be covered. While the vH1 system included a "mitt" for the patient's hand, the convertible vH2 system will allow placement of the device on either the patient's hand or foot, giving clinicians greater flexibility in patient access.
About Dynatherm Medical
Dynatherm Medical, Inc. was founded in 2003 through an asset purchase from Kobayashi Pharmaceuticals. Dynatherm's technology for noninvasively regulating the body's core temperature was invented by Dr. Dennis Grahn at Stanford University. Dynatherm is developing a platform of products based on this technology, starting with patient temperature management through their VitalHeat(TM) vH1 and vH2 product platforms.
Founded in 1979, Sanderling is among the oldest investment firms dedicated to building new biomedical companies. Archangel BioVentures was founded in 2001 and specializes in entrepreneurial biomedical investments.
Source: Dynatherm Medical
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