Seattle, WA – Today, AngelMD announced an investment syndicate formed by AngelMD, Inc. closed the final funding of Qool Therapeutics Inc's Seed financing round. Qool Therapeutics’ mission is to save hearts and minds with a non-invasive, field deployable, rapid therapeutic hypothermia system.
Qool Therapeutics, based in Menlo Park, CA was founded by entrepreneur and inventor Amir Belson, MD. Dr. Belson recruited veteran device executive Beverly Huss as CEO and the company is gaining traction quickly. While completing their funding round, the company is simultaneously undergoing early animal studies using the therapeutic device and launching their Series A1 financing round.
Respected orthopedic surgeon Michael Dillingham, MD led the AngelMD syndicate. He said, “This is a disruptive therapeutics application through a device with a variety of potential uses ranging from the ER and surgical suite to the sports environment and the military among others. Further, Amir is known for his innovation and Beverly is a solid executive to lead this effort.”
“We are pleased to have AngelMD participating in this venture. While the capital is important, we are just as excited to have clinicians who can help advise us along the path toward a successful outcome” said Beverly Huss, CEO Qool Therapeutics.
About Qool Therapeutics: Qool Therapeutics, Inc. is a pre-revenue stage company that is developing a novel non-invasive therapeutic hypothermia device for targeted temperature management and exercise recovery. The current US and European market for targeted temperature management therapies is over $600 million a year and growing at 7 - 10% annually. Therapeutic hypothermia is an established protective adjunct in vascular neurosurgery, aortic aneurysm repair, and cardiovascular surgery. It is the standard of care for treatment of patients with cardiac arrest and also has applications in several areas of emergent care, including acute MI, stroke, traumatic brain injury, cardiogenic shock, status epilepticus, encephalitis/meningitis, burns, heat stroke and hyperthermia and sepsis. The technology has important applications in the military battlefield especially in the areas of traumatic brain injury, shock, and burns. Rapid reduction of a patient’s temperature by just 2⁰ Centigrade leads to dramatic tissue preservation with virtually no side effects. Cooling an athlete with elevated temperature by just 0.8⁰C results in faster exercise recovery and performance improvement. Therapeutic hypothermia using existing technologies is limited by poor cooling efficiency, or an inability to integrate into the flow of care, compromising the opportunity successful outcomes.
The Qool Therapeutics System is designed to deliver aerosolized frozen saline particles to the lungs. As the patient breaths in the tiny frozen saline particles, the system exploits the large surface area of the lungs with a direct path to the heart and brain for quick local cooling of these organs and later to a total body core temperature reduction. The Company has large animal feasibility data that demonstrates faster cooling rates than any competitor with no adverse physiologic effects, temperature maintenance, and controlled re-warming. Qool Therapeutics’ proprietary patented technology is designed to provide a safe, simpler and faster option for patients than other current competitive devices.
About AngelMD: AngelMD is an investment platform and marketplace connecting innovative medical startups physicians, investors and industry partners. Leading physicians from all over the US have joined the AngelMD Clinical Advisory Board and Leaders’ Club to help source and evaluate opportunities in biotechnology, medical device and healthcare technology. For more information, visit www.angelmd.co.