This article was originally published in The Gray Sheet
Raises $12 mil. in private placement led by Invesco Private Capital. San Diego-based CryoGen will use the funds to conclude clinical research and begin commercialization of its FirstOption Uterine Cryoblation therapy system to treat abnormal uterine bleeding. The miniature, closed-cycle cryoablation device, which is designed to allow physicians to ablate tissue at extremely low temperatures, is currently being evaluated at 11 centers in the U.S. The financing, which will also support R&D for cardiac applications of the cryoblation technology, brings the development-stage firm's total venture capital funding to $25.5 mil
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Cryogen plans to file data in support of a premarket approval application during the second quarter to expand labeling for the First Option intrauterine cryosurgical probe to include specific references to endometrial ablation as a treatment for dysfunctional uterine bleeding.
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