CellAegis secures $9.5M Series C led by CTI Life Sciences Fund

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By Ted Liu

CellAegis Devices Inc., a Toronto based developer of proprietary, automated, noninvasive autoRIC Device for Remote Ischemic Conditioning (RIC), has officially announced US $9.5 million Series C led by CTI Life Sciences Fund, co-led by a U.S. based [mepr-active rule=”374″ ifallowed=”hide”]strategic investor – ##Subscriber – please login to see the name##[/mepr-active][mepr-active rule=”374″]ZOLL Medical Corporation[/mepr-active]. Other investors included MaRS Catalyst Fund, Broadview Ventures, and strategic family offices.

Dr. Shermaine Tilley, Managing Partner in CTI Life Sciences Fund, and an appointee from the US Strategic investor have joined CellAegis’ board of Directors. Christopher Colecchi, from Broadview Ventures, will also serve as a director.

The newly reconstituted board also includes [mepr-active rule=”374″ ifallowed=”hide”]##subscriber ONLY content, please login to see full content##[/mepr-active][mepr-active rule=”374″]new directors, Eric Knudsen, Director of Business Development of ZOLL Medical, Dr. Andrew Redington, Head of Cardiology at The Hospital for Sick Children (SickKids), existing directors, John Berton, Chair and co-founder of CellAegis, and co-founder & General Partner of Georgian Partners, CEO Rocky Ganske, Donna Parr, President of Crimson Capital, Brian Roberts. [/mepr-active]

“We are ready to advance clinical commercialization of autoRIC Device in the EU and Canada, complete the FDA trial and gain approval to open the US market,” said Rocky Ganske, CEO of CellAegis Devices. “This financing adds the experience of seasoned Canadian and U.S. medical technology investors, and demonstrates the support of our existing investors.”

“CTI Life Sciences Fund is enthusiastic to provide capital to CellAegis at this important juncture in the company’s development. The autoRIC Device shows promise in significantly improving outcomes in cardiovascular and other organ systems following ischemic events such as heart attacks, and we look forward to facilitating its clinical testing and regulatory submission for the U.S. market,” said Dr. Tilley.

photo credit: CellAegis Devices