CSA Medical, developer of The RejuvenAir System, a breakthrough medical device advancing liquid nitrogen spray cryotherapy for the treatment of chronic bronchitis, today announced the completion of an oversubscribed $53 million Series D preferred stock equity financing. This round will fund the company though expected FDA premarket approval (PMA) and the building of a commercialization strategy for the U.S. launch.
"We're excited to bring new partners on board as we approach the next significant milestone of submitting the RejuvenAir System for regulatory approval," said Wendelin Maners, CSA Medical CEO. "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.
"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," said Dr. Luc Marengere, Managing Partner at TVM Capital Life Science. "I am excited to join the Board of CSA and look forward to see the upcoming data from the U.S. pivotal study."
Chronic Bronchitis is the largest disease subset of Chronic Obstructive Pulmonary Disease (COPD). Bronchitis is inflammation of the bronchial airways. A chronic bronchitis diagnosis is defined by cough with productive sputum of three months duration for two consecutive years. In addition to chronic inflammation, cough and increased production of mucus, Chronic Bronchitis may or may not present with obstruction/partially blocked airways due to swelling and excess mucus in the bronchi or shortness of breath (dyspnea). In the United States, there are an estimated 16 million people with COPD, of which over 9 million have a diagnosis of Chronic Bronchitis, a subset of COPD.
