Theromics Inc., a West Bridgewater, Mass.-based medical device company advancing novel technologies for interventional radiology and drug delivery, closed a $2M seed financing.
Participants in the round included Maroon Venture Partners, Beacon Angels Boston, STARmed Co. Ltd, and individual investors.
The company intends to use the funds to advance the development of HeatSYNC™, a thermal accelerant gel for optimizing and augmenting soft tissue thermal ablations, 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.
Led by CEO Ronald Murphy, 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. Theromics’ will first focus on tumor ablations and then expand into additional applications, including pain and abnormal uterine bleeding. Longer-term, the company 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.
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.
