Qool Therapeutics
Creating non-invasive, efficient temperature management therapies to preserve cells.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
$8.0m | Series A | ||
| Total Funding | 000k | ||
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Qool Therapeutics, Inc., originally established as Thermocure in 2005 and later rebranded, focused on developing non-invasive therapeutic hypothermia technology. The company was founded by entrepreneur and inventor Dr. Amir Belson, an Israeli flight surgeon and pediatric nephrologist. Beverly Huss, a seasoned executive with extensive experience in the medical device industry, including leadership roles at Guidant and Vibrynt, joined as President and CEO in September 2013.
The core of the company's business was a proprietary system designed to induce rapid cooling in patients to preserve tissue and organ function following critical medical events like cardiac arrest, stroke, or traumatic brain injury. The technology operated by delivering aerosolized, micron-sized frozen saline particles directly to the lungs. This method leveraged the large surface area of the lungs to quickly cool the blood, which then circulates to the heart and brain, aiming for a faster and less invasive alternative to existing cooling methods like catheters or blankets. The system consisted of a control unit that generated the frozen particles and a disposable delivery tube for administration. Potential applications were broad, targeting conditions such as acute myocardial infarction, shock, sepsis, and heat stroke.
Qool Therapeutics operated in the therapeutic devices and HealthTech markets, catering to medical professionals in emergency and critical care settings. The company's business model was centered on the development and eventual commercialization of this medical device. It successfully raised capital through multiple funding rounds, securing a total of $14.5 million from investors including Zhongji Holdings, Western Technology Investment, and MBX Capital. A significant Series A-1 round in 2017 raised $8 million to advance the technology toward human trials. Despite its promising technology and securing multiple patents, the company ultimately ceased operations, culminating in a bankruptcy liquidation filed in October 2021.
Keywords: therapeutic hypothermia, medical device, non-invasive cooling, temperature management, cell preservation, emergency medicine, cardiac arrest treatment, neuroprotection, medtech, venture capital