Cryosa is a technology company.
Cryosa has raised $29.0M across 2 funding rounds.
Cryosa has raised $29.0M in total across 2 funding rounds.
Cryosa is a clinical-stage medical device company developing a minimally invasive, incisionless treatment for obstructive sleep apnea (OSA) using proprietary cooling technology to reduce airway tissue without implants or daily patient compliance.[1][2][4] It targets the 24 million U.S. adults and 425 million globally with moderate to severe OSA, offering an alternative to CPAP machines and surgery for ear, nose, and throat physicians and patients.[1][2] Founded in 2014 and based in Arden Hills, Minnesota, Cryosa has raised $33.75M total, including a $21.5M Series B in 2021 led by Solas BioVentures, progressing through first-in-human trials with an experienced team from med-tech startups and firms like Medtronic.[1][2][3]
Cryosa was founded in 2014 by Dr. Donald Gonzales, an ENT specialist and current Chief Medical Officer, alongside co-founders including Dr. David Adair of Solas BioVentures, to address the lack of effective, minimally invasive OSA treatments.[1][2][4] The idea emerged from Gonzales' clinical experience, focusing on root-cause therapies via controlled tissue cooling rather than compliance-heavy options like CPAP.[2] Early traction included an $8.25M Series A-2 round and a $21.5M Series B in September 2021 to fund clinical trials, evolving from concept to clinical-stage with leadership from med-tech veterans.[1][2][3] Current President and CEO Laura Stoltenberg leads alongside Chief Scientific Officer Cassie Morris and VP of R&D Stefan Skorich.[4]
Cryosa rides the rising demand for OSA solutions amid growing awareness of sleep health's links to cardiovascular disease, diabetes, and productivity loss, with market forces favoring non-CPAP alternatives as patient non-compliance exceeds 50%.[1][2] Timing aligns with med-tech innovation in Minnesota's "Medical Alley" hub, post-COVID emphasis on respiratory tech, and venture interest in life sciences—evidenced by $33.75M raised despite a tough funding climate.[1][3] It influences the ecosystem by pioneering compliance-free therapies, potentially expanding ENT practices and partnering with diagnostics firms, while competing with implant-based players like Inspire Medical.[1]
Cryosa is poised for pivotal trial readouts and potential FDA pathways, with next steps including expanded efficacy studies and commercialization if data succeeds, targeting a multi-billion OSA device market.[1][2] Trends like AI-driven sleep tracking and personalized med-tech will amplify its impact, evolving its role from innovator to category leader if it scales adoption among non-compliant CPAP patients. This positions Cryosa to transform sleep apnea care, fulfilling its promise of brighter days through root-cause treatment.[4]
Cryosa has raised $29.0M in total across 2 funding rounds.
Cryosa's investors include Solas BioVentures, Endeavor Venture Funds, Samsara BioCapital.
Cryosa has raised $29.0M across 2 funding rounds. Most recently, it raised $22.0M Series B in September 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2021 | $22.0M Series B | Solas BioVentures | |
| Aug 1, 2021 | $7.0M Series B | Endeavor Venture Funds, Samsara BioCapital |