Medtech Startup Cryosa Close $ 21.5mn Group B Financing Round

Cryosa, an Arden Hills-based medtech startup, has closed $ 21.5 million Series B funding round to revolutionize sleep apnea prevention treatments.

The funding round was led by Solas BioVentures, an investment company specializing in life sciences. Existing round A series investors also took part, including Santé Ventures and the medical technology company HOYA Corporation. The new capital brings the total funding raised for the startup to more than $ 29 million. David Adair, one of the founders and CEO of Solas BioVentures, mentioned the potential the company saw in the startup:

“There is a lack of available OSA treatments that are minimally invasive and effective. The device that Cryosa is developing has the potential to help millions of people with this disease.”

Cryosa was formed in 2018 with advances in the development of sleep apnea (OSA) and the development of minimally invasive therapies, a condition that affects more than 24 million people in the United States. Existing solutions require daily compliance for patients, which not only reduces the quality of life, but also increases the chances of reducing the effectiveness of treatment due to human error.

Thanks to funding, the launch will continue to conduct the first human clinical trials, which is a major milestone in compliance with regulations and the launch of the product. These devices have been developed by engineers and professionals with years of experience in the healthcare industry. Dr. Donald Gonzales, founder of Cryosa and medical director, said of the following efforts:

“We are focused on developing a treatment for the underlying cause of sleep apnea by offering new therapies that do not require a patient’s implant or daily compliance to doctors in the ear, nose and throat.”

Due to insufficient OSA treatments for the growing demand from patients and healthcare providers, Cryosa aims to become a leader in the treatment of the disease. medtech startups can provide an innovative way to improve the health of millions of people by improving their quality of life.

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