Theromics Inc. Announces Closing of Oversubscribed $2 Million Seed Series and Appoints John Brooks III to Board of Directors
WEST BRIDGEWATER, Mass., January 19, 2022 /PRNewswire/ — Theromics Inc., a medical device company pioneering new technologies for interventional radiology and drug delivery, has closed a $2 million Seed equity financing to advance the development of HeatSYNC™, a thermal accelerator gel to optimize and augment soft tissue thermal ablations.
Round participants include Maroon Venture Partners, Beacon Angels Boston, STARmed Co. Ltd and individual investors. Theromics will use the funding to advance HeatSYNC through testing required by the FDA for regulatory clearance. Studies are currently underway or planned at prominent research institutes including Dartmouth College, brown university, Purdue University, and Kansas State University.
“Theromics has developed a simple and unique approach to making soft tissue ablation more efficient. The closing of our seed funding confirms clinicians’ view that additional tools are needed to elevate thermal ablation to first-line treatment,” said Theromics CEO. Ronald Murphy.
The company also announced that John L Brooks III will join Theromics’ board of directors. John L. Brooks III is the Managing Director of Healthcare Capital LLC, which advises start-up life science companies. He is the former President and CEO of the Joslin Diabetes Center and co-founded seven life science companies, including Insulet (PODD), an insulin delivery disruptor. Additionally, he was a co-founder of Prism Venture Partners, a $1.25 billion venture capital firm and is currently part of the investment team at Maroon Venture Partners.
Mr. Brooks said, “Theromics is developing an exciting new platform with multiple applications in the growing fields of soft tissue ablation and local drug delivery. We are delighted to partner with the team and support UMasse-Trained entrepreneurs like Dr. Damien Dupuy, one of the founders of the Company.”
Theromics has developed a simple, cost-effective tool to address the unmet medical need to create more effective ablation zones during image-guided thermal ablation of soft tissue. HeatSYNC™ Gel is a new biopolymer thermal accelerator that amplifies the movement of thermal energy through soft tissue and bone. The gel is made from a natural protein and administered via a syringe, laparoscope or bronchoscope. Additionally, all standard microwave, RF, and irreversible electroporation (IRE) devices can use HeatSYNC, and its chemical properties increase the energy generated by the ablation system. This augmentation is controllable, customizable, and creates larger ablation volumes in a shorter treatment time. HeatSYNC also blocks complete energy penetration, mitigating the effects of heat sinks and protecting critical tissue. As a result, HeatSYNC gel has multiple applications in the treatment of liver, lung, orthopedic pain and uterine fibroids. After successful animal trials, the company is now positioned for formal GLP gel testing, leading to an FDA submission.
About Theromics Inc.
Theromics is developing next-generation thermal accelerator technology for soft tissue ablation procedures and combination therapy. The company’s proprietary HeatSYNC™ Gel is based on a naturally occurring protein in the body and can increase cost effectiveness and improve outcomes through more targeted, patient-centric delivery. The company will initially focus on tumor ablations and then expand into other applications including pain and abnormal uterine bleeding. In the longer term, Theromics plans to apply its thermal technology as an intratumoral oncolytic drug delivery/immunotherapy platform with the potential to improve efficacy and improve drug safety profiles. currently approved. For more information, visit www.theromicsinc.com.
Ronald Murphy CEO
SOURCE Theromics Inc.