Navigation Links
ThermalTherapeutic Systems Completes $2.75 Million Series A Financing With Originate Ventures

PITTSBURGH, Sept. 30 /PRNewswire/ -- ThermalTherapeutic Systems, Inc., developers of a highly portable platform technology to standardize hyperthermic perfusion announced today the completion of $2.75 Million Series A financing.

After receiving initial start-up funding by the Pittsburgh Life Sciences Greenhouse, and successful rounds of private financing which included follow-on investments by the Pittsburgh Life Sciences Greenhouse and Innovation Works, Originate Ventures has taken the lead on a $2.75 million commitment intended to spearhead the commercialization of ThermalTherapeutic Systems proprietary new technology.

"Originate Ventures' financial support of our strategic objectives marks a significant milestone in our company's development. In July we submitted our application to the FDA, in August we closed on $750,000 in private financing and, in September, Originate Ventures recognized that their investment would be the catalyst to launch our technology," said Raymond F. Vennare, Co-Founder and CEO. "For physicians, the possibility now exists to provide better treatment options for a growing number of patients and, for investors, an opportunity to participate in a potential billion dollar growth market with international implications."

"ThermalTherapeutic Systems not only fits our investment profile," said Mike Gausling, Managing Partner of Originate Ventures, "but promises to be a disruptive technology in an emerging market; it addresses an unmet need in the marketplace and anticipates future applications for hyperthermic perfusion."

"We are pleased to be able to partner with Originate Ventures, and recognize the positive impact their investment will have in enabling ThermalTherapeutic Systems to provide physicians and hospitals with a powerful and innovative new tool to treat patients," stated Peter M. DeComo, Co-founder and Chairman of ThermalTherapeutic Systems.

About ThermalTherapeutic Systems:

ThermalTherapeutic Systems, Inc. is in the final stages of development of a portable hyperthermic perfusion system. The intended use of the TTS100 Portable Hyperthermic Perfusion Device is to raise the temperature of the thoracic or peritoneal cavity. This proprietary technology is designed to provide the medical community with a small, portable, and lightweight device, which has been specifically designed to standardize the use and improve the control of hyperthermic and normalthermic perfusion.

About Originate Ventures:

Originate Ventures is a venture capital firm with offices in Bethlehem, PA targets early stage product and services companies in Pennsylvania and surrounding regions. The firm focuses on opportunities in the information technology, healthcare, consumer, Web-based and certain commercial product and distribution fields. Operating with an entrepreneurial spirit and vision, Originate's investments range in size from $1,000,000 to $4 million.

SOURCE ThermalTherapeutic Systems, Inc.

SOURCE ThermalTherapeutic Systems, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Life Recovery Systems Receives European CE Mark Approval for Its ThermoSuit(R) System
2. Flexible Medical Systems Raises $1.2M Seed Investment for Initial Human Trials
3. Boston Scientific to Release Broad Range of Clinical Trial Data Reinforcing Safety and Efficacy of Taxus(R) Coronary Stent Systems at TCT 2007
4. BD and PEPFAR Collaborate to Strengthen Laboratory Systems in Fight Against HIV/AIDS and TB
5. Imaging Diagnostic Systems CTLM Technology Presented at Congress of World Society for Breast Health
6. Imaging Diagnostic Systems Updates PMA Filing Status for the New CT Laser Breast Imaging System
7. PLC Systems Achieves Successful Early Conclusion of RenalGuard(TM) Pilot Safety Trial
8. PLC Medical Systems Names Lead Investigators for Pivotal Trial to Evaluate RenalGuard System(TM) and RenalGuard Therapy(TM)
9. Pharmatech Teams up With Systems Medicine LLC and the Sarcoma Foundation of America for a Phase II Myxoid Liposarcoma Trial
10. PLC Systems Reports Fourth Quarter 2007 Results
11. PLC Systems Receives FDA Approval to Commence Pivotal Study Of RenalGuard(TM) In the U.S.
Post Your Comments:
(Date:11/26/2015)... Nov. 26, 2015 Research and Markets ... the "2016 Future Horizons and Growth Strategies ... Supplier Shares, Country Segment Forecasts, Competitive Intelligence, Emerging ... --> --> This ... the Italian therapeutic drug monitoring market, including emerging ...
(Date:11/25/2015)... , Nov. 25, 2015  Amgen (NASDAQ: AMGN ... Application (BLA) with the United States ... 501, a biosimilar candidate to Humira ® (adalimumab). ... application submitted to the FDA and represents Amgen,s first ... Sean E. Harper , M.D., executive vice president of ...
(Date:11/25/2015)... Nov. 25, 2015  ARKRAY USA ... to provide evidence demonstrating the accuracy of its blood ... on Insulin Resistance, Diabetes and Cardiovascular Disease in ... the Company,s GLUCOCARD ® 01 meter and the ... requirements. The ability to accurately measure glucose levels in ...
Breaking Medicine Technology:
(Date:11/28/2015)... ... , ... Safe storage for contraceptive devices may not always be easy to ... and the other from Bradley Beach, New Jersey, there is an easy solution to ... to replace NuvaRings more often than necessary. As such, it affords peace of mind ...
(Date:11/27/2015)... ... November 28, 2015 , ... There is only one major question facing ... last year? , This question has not been an easy question to answer. Especially ... age and the younger workforce don’t share the same discipline around working long hours. ...
(Date:11/27/2015)... ... 27, 2015 , ... The rapid speed at which Americans ... more care is needed, especially with Alzheimer’s, dementia and other cognitive conditions becoming ... The forgotten part of this equation: 80 percent of medical care occurs in ...
(Date:11/27/2015)... ... 27, 2015 , ... Lizzie’s Lice Pickers just announced a special promotion that ... of their purchase of lice treatment product. In addition, customers will receive a complimentary ... spokesperson. “Finding lice is a sure way to ruin the holidays, so we encourage ...
(Date:11/27/2015)... , ... November 27, 2015 , ... ... of progress through sharing, the 2016 Building Better Radiology Marketing Programs ... will begin on Sunday, March 6, 2016, at Caesars Palace in Las Vegas ...
Breaking Medicine News(10 mins):