Main Line Equity Partners Invests in C2 Therapeutics
Growth capital to help developer of ablation therapies improve its preventive treatment of esophagus cancer
Main Line Equity Partners today announced it has made an investment in C2 Therapeutics, a privately held company that improves the treatment of precursors to esophageal cancer (known as Barrett’s Esophagus).
The financing will help C2 Therapeutics expand the development of its Coldplay Focal Cryoballoon Ablation System—innovative technology that sets a new standard for simplicity in ablation of Barrett’s Esophagus. Barrett’s Esophagus is a result of chronic injury from gastroesophageal reflux disease. Over time, the normal esophageal lining is replaced with abnormal cells, putting patients at greater risk of cancer.
C2 Therapeutics has received a Section 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its Coldplay Cryoballon Focal Ablation System.
“We initiated the investment in C2 as part of the continued healthcare technology investment strategy,” said Chris Randazzo, Managing Partner at Main Line Equity Partners. “C2 is new innovative medical technology that is minimally invasive, able to be deployed in an outpatient setting, and has demonstrated positive patient outcome and experience.”
About C2 Therapeutics
C2 Therapeutics is a privately held company founded in 2007 to address the limitations of treatment options for Barrett’s Esophagus (BE). Its innovative Cryoballoon Ablation System sets a new standard for simplicity and cost effectiveness in treating BE. The device is a TTS (through-the-scope), highly compliant balloon catheter that is simultaneously inflated and cooled by an inert refrigerant delivered from a small disposable handheld unit. The balloon conforms to the shape of the esophageal lumen without exerting excessive tension on the esophageal wall. Operation is intuitive, fast, and cost-effective. The Cryoballoon Ablation System eliminates the need for precise sizing, multiple deployment steps, intensive training for the physician, and large controller units.