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Thursday, Dec 7, 2023

Hypothermia Devices Raises $11M in Funding

Hypothermia Devices Inc., a Brentwood-based medical device company that develops patient cooling-and-heating machines for emergency vehicles and hospitals, has raised nearly $11 million in investor funding, according to a Nov. 6 securities filing.

The five-year-old firm raised $10.7 million in securities sold to 51 investors, according to a filing with the U.S. Securities and Exchange Commission.

Hypothermia Devices purports to “bring non-invasive cooling into the digital age,” according to its website.

The company designs and manufactures compact cooling/heating devices for therapeutic hypothermia and other medical conditions for use in ambulances or to replace bulky equipment used hospitals and other medical facilities.

Hypothermia Devices was co-founded by Dr. Julio L. Vergara, Raul Serrano and Dr. Lucas Restrepo.

Vergara is a professor of physiology at the UCLA David Geffen School of Medicine who has filed numerous patents during his 35 years at the university.

Vergara also serves as chief science officer for Kelvi, an Inglewood-based subsidiary that makes digitally connected, hand-held cryo/thermotherapy devices for athletes to replace ice treatments used for sports recovery. Restrepo is Kelvi’s chief medical officer.

Hypothermia Devices, also doing business as Kelvi, graduated last February from Magnify, an incubator for mostly biomedical companies based at the California NanoSystems Institute at UCLA.

Health business reporter Dana Bartholomew can be reached at dbartholomew@labusinessjournal.com. Follow him on Twitter @_DanaBart.

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