Cryosa, a medical device startup developing therapies for obstructive sleep apnea (OSA), announced Thursday it raised $21.5 million in a Series B funding found.
The Arden Hills-based company is working on a minimally invasive therapy for OSA that doesn't require daily patient compliance.
The round was led by Chattanooga, Tennessee-based Solas BioVentures, with additional funding from Santé Ventures and Tokyo-based HOYA Corp.
Cryosa said it will use the funding to continue its human clinical trials.
“With the momentum of this funding round, we’re in a strong position to expand into our next phase of safety and efficacy clinical trials,” said Mark Christopherson, Cryosa president and CEO.
This latest funding comes after Cryosa raised $8.25 million for a Series A round in June 2020.
The company was founded in 2018 by Dr. Donald Gonzales, who was previously chief medical officer for Maple Grove-based Entellus Medical, which was acquired by Kalamazoo, Michigan-based Stryker.
