CryoFluor Therapeutics Closes Additional Investment

CryoFluor Therapeutics, a medical-device company developing a novel cryosurgical technology platform, has received an additional investment that extends its second round of financing. The additional funds will allow the company to complete a feasibility clinical trial of its device to treat abnormal uterine bleeding. Research Corporation Technologies (RCT), Endocare Inc. and Temple University participated in the investment.

The CryoFluor technology uses uncontained, cold, fluid perfluorochemicals as the cryogenic medium. The liquid cryogenic technology performs rapid, complete and controllable cryoablation of tissues. This method overcomes the limitations of conventional probe-based cryosurgery devices and creates access to a variety of new minimally invasive surgeries.

CryoFluor has completed engineering and related preclinical activities for its first product, a device to treat abnormal uterine bleeding by ablating the lining of the uterus, or endometrial ablation. Abnormal uterine bleeding is responsible for more than 1 million office visits annually in the United States.

Endocare, a publicly traded cryosurgical company in Irvine, Calif., has invested in the development of the CryoFluor endometrial ablation device. Endocare is providing engineering, fabrication, manufacturing, regulatory documentation and oversight, clinical oversight and marketing strategy support.

For the next 10 months, CryoFluor will focus on initial clinical cases in Mexico to determine safety and feasibility. The company will also prepare for a pivotal clinical trial in the United States.

"This investment will provide CryoFluor with the resources to complete safety and efficacy studies of our lead device for endometrial ablation and prove the superiority of our technology to treat abnormal uterine bleeding," said David Jackson, Ph.D., CryoFluor president and chief operating officer. "The data from this trial will allow the company to initiate a multi-center trial in the United States and ultimately bring improved care to patients with this condition."

Previously employed as an investment professional with CryoFluor's primary seed-round investor, RCT, Jackson has been involved in managing CryoFluor's development program since its inception. Jackson's experience in medical technology development has helped advance several therapeutic and diagnostic technologies through early clinical studies.

RCT formed CryoFluor with Temple University to develop the work of Temple researchers, Thomas H. Shaffer, Ph.D., Marla R. Wolfson, Ph.D. and Robert G. Stern, Ph.D. RCT, in Tucson, Ariz., is a technology investment and management company that provides early-stage funding and development for promising biomedical companies and technologies.

Endocare Inc. is an innovative medical device company focused on development of minimally invasive technologies for tissue and tumor ablation. Endocare has initially concentrated on developing devices for treatment of prostate cancer and believes its proprietary technologies have broad applications across a number of markets, including ablation of tumors in the kidney, lung, liver and bone.

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