Deal summary reprinted from Strategic Transactions - July 2009
BeneChill (therapeutic hypothermia-inducing device) has raised $13.5mm through its Series C venture round. New backer HealthCap led the financing and contributes a board member. Returning shareholders MedVenture Associates, NGN Capital, and the Solon Foundation also participated. Read more...
BeneChill raises $13.5mm through Series C round
Deal summary reprinted from Strategic Transactions - July 2009
The funds will be used to market the five-year-old company's RhinoChill System in Europe. It gained the CE Mark in early 2008 and is an investigational device in the US. RhinoChill is noninvasive, portable, and does not require external power to cool, which makes it ideal for emergency field use. It uses a nasal catheter to deliver a coolant to the nasopharynx in patients that need hypothermia--those who have experienced heart attack, stroke, or head injury. RhinoChill has completed a study in cardiac arrest patients (results will be announced later this year) to determine if adding intranasal cooling to patients during resuscitation efforts improves the end result after experiencing myocardial infarction instead of using just hospital-based cooling with pads.
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