CSA Medical, the developer of The RejuvenAir System (a Breakthrough Medical Device advancing the power of liquid nitrogen spray cryotherapy for the treatment of chronic bronchitis), announced the completion of an oversubscribed $53 million Series D preferred stock equity financing. TVM Capital Life Science and Yonjin Ventures co-led the round while also being joined by a syndicate of existing shareholders SV Health Investors, Ascension Ventures, First Analysis, Blue Heron, and Intersouth Partners.
This round will fund the company through expected U.S. Food and Drug Association (FDA) premarket approval (PMA) and the advancement of a comprehensive commercialization strategy for a successful U.S. launch.
In connection with the funding, Dr. Luc Marengere of TVM and Dr. Deng Mao of Yonjin Ventures will join CSA Medical’s Board of Directors.
KEY QUOTES:
“We’re excited to bring new partners on board as we approach the next significant milestone of submitting the RejuvenAir System for regulatory approval. This new investment further validates the enormous market potential for the RejuvenAir therapeutic platform in this under-served patient population.” The RejuvenAir System is a medical device therapy aimed at treating the underlying cause of the chronic bronchitis, something no drug or device on the market does today.”
– Wendelin Maners, CSA Medical CEO
“This successful funding round is a testament to our confidence in the Company’s team, vision and impact RejuvenAir will make in treating chronic bronchitis around the world. I am excited to join the Board of CSA and look forward to see the upcoming data from the U.S. pivotal study.”
– Dr. Luc Marengere, Managing Partner at TVM Capital Life Science
“Our investment is driven by the clear and significant impact the RejuvenAir technology will have on chronic bronchitis patients worldwide.”
– Dr. Deng Mao of Yonjin Ventures
