Medtech Startup Cryosa Close $21.5 mln Series B Funding Round

Cryosa, a medtech startup based in Arden Hills, has closed a $21.5 million Series B funding round to revolutionize obstructive sleep apnea treatments.

The funding round was led by Solas BioVentures, an investment firm specializing in life sciences. Existing investors from the Series A round also participated, including Santé Ventures, and med-tech company HOYA Corporation. The new capital brings the total funding raised by the startup to more than $29 million. David Adair, co-founder and managing director of Solas BioVentures, referred to the potential the firm saw in the startup by stating:

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

Cryosa was founded in 2018 with the mission to develop breakthrough and minimally invasive therapies for the treatment of obstructive sleep apnea (OSA), a condition that affects more than 24 million people in the United states. Existing solutions require daily compliance for patients which not only reduces their quality of life but also increases the chances of decreased effectiveness of the treatment due to human error.

The funding will allow the startup to continue its first-in-human clinical trials, which represent a major milestone on the path to regulatory compliance and the release of the product to the market. These devices have been developed by engineers and professionals with years of experience in the health industry. Dr. Donald Gonzales, Cryosa Founder and Chief Medical Officer, said about these efforts:

“We are focused on developing a treatment for the root cause of sleep apnea, providing ear, nose and throat physicians a novel therapy that does not require an implant or daily compliance from the patient.”

With existing treatments of OSA proving to be insufficient for the increasing demands of patients and healthcare providers, Cryosa is looking to become a leader in the treatment of the condition- The minimally invasive and effective medical devices developed by the medtech startup could provide a novel way to improve the health of millions of people, all while improving their quality life.