WEST BRIDGEWATER, Mass., Jan. 19, 2022 /PRNewswire/ — Theromics Inc., a medical device company pioneering novel technologies for interventional radiology and drug delivery, has closed a $2M seed equity financing to advance the development of HeatSYNC™, a thermal accelerant gel for optimizing and augmenting soft tissue thermal ablations.
Participants in the round include Maroon Venture Partners, Beacon Angels Boston, STARmed Co. Ltd, and individual investors. Theromics will use the financing to advance HeatSYNC through the FDA-required testing for regulatory clearance. The studies are currently underway or planned to occur at distinguished research institutions, including Dartmouth College, Brown University, Purdue University, and Kansas State University.
"Theromics has developed a simple, unique approach to making soft tissue ablation more effective. The closing of our initial funding validates clinicians’ opinion that additional tools are needed to elevate thermal ablation to front-line therapy," stated Theromics CEO Ronald Murphy.
The Company has also announced that John L Brooks III will be joining the Theromics Board of Directors. John L. Brooks III is the Managing Director of Healthcare Capital LLC, which advises early-stage life sciences companies. He is the former President and Chief Executive Officer of the Joslin Diabetes Center and has co-founded seven life sciences companies, including Insulet (PODD), a disruptive insulin delivery company. In addition, he was a co-founder of Prism Venture Partners, a $1.25B venture capital firm, and currently sits on the investment team at Maroon Venture Partners.
Mr. Brooks noted, "Theromics is developing an exciting new platform with multiple applications in the growing fields of soft tissue ablation and locally directed drug delivery. We are excited to be partnering with the team and supporting UMass-trained entrepreneurs like Dr. Damian Dupuy, one of the Company’s founders."
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 novel biopolymer thermal-accelerant that amplifies the movement of heat energy in soft tissue and bone. The gel is made from a naturally occurring protein and delivered via a syringe, laparoscope, or bronchoscope. In addition, all standard microwave, RF, and Irreversible electroporation (IRE) devices can use HeatSYNC, and its chemical properties augment the energy generated from 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 liver, lung, orthopedic pain, and uterine fibroid treatment applications. 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 a next-generation thermal accelerant technology for soft tissue ablation procedures and combination therapy. The Company’s proprietary HeatSYNC™ gel is based on a protein naturally found in the body and may increase cost-efficiencies and improve outcomes through more focused and patient-centric delivery. The Company will first focus on tumor ablations and then expand into additional applications, including pain and abnormal uterine bleeding. Longer-term, Theromics plans to apply its thermal technology for use as an oncolytic intratumoral drug/immunotherapy delivery platform with the potential to enhance efficacy and improve safety profiles of currently approved medicines. For more information, visit www.theromicsinc.com.
Ronald Murphy CEO
SOURCE Theromics Inc.