CryoTherapeutics

About CryoTherapeutics

CryoTherapeutics is a medical device company developing a proprietary cryotherapy system to treat coronary artery disease and prevent heart attacks. Founded in Germany in December 2009 by a team of serial entrepreneurs from the UK, US, and Canada, the company's operations are now managed in Liège, Belgium. The CEO, Dr. John Yianni, holds a PhD in Biophysics and has founded several other medical device companies.

The company's core technology is the Cryotherapy System (CTS), which consists of a reusable console and a single-use intracoronary balloon catheter. This system is designed for interventional cardiologists to deliver cryoenergy—cooling temperatures between -10°C and -20°C—to treat inflamed, high-risk atherosclerotic plaque (also known as vulnerable plaque). The treatment aims to stabilize these plaques by reducing inflammation and increasing the thickness of the fibrous cap, thereby lowering the risk of rupture, which is a major cause of myocardial infarction. This implant-free approach avoids the complications associated with permanent implants like stents.

CryoTherapeutics targets patients with high-risk, non-flow-limiting coronary plaque, who are often difficult to diagnose before a cardiac event. The business model centers on the development, clinical validation, and eventual commercialization of the CTS. The company makes money by selling the single-use catheters, while the accompanying console is reusable. The company has secured significant funding through multiple rounds, including a Series A round of €3 million in 2012, a Series B round of €7 million in 2019, and a Series B extension of €10 million in 2024, to support clinical trials and product development for commercial launch. Investors include Noshaq, Peppermint Venture Partners, Creathor Ventures, High-Tech Gruenderfonds (HTGF), and Yellowstone Holding.