Chicago-based Advanced Cooling Therapy Receives European Union CE Mark
Wednesday, April 9, 2014
The iBIO Institute’s PROPEL Programs Provided Critical Support and Guidance to Help Reach Milestone
CHICAGO (April 9, 2014) - Chicago-based emerging medical device manufacturing company Advanced Cooling Therapy (ACT) has received CE marking for its first product, the Esophageal Cooling Device (ECD) to control patient temperature. CE marking indicates that a product complies with EU legislation and enables the free movement of products within the European market. The ECD is now available to medical professionals in Europe.
ACT reached the CE marking milestone with critical support and guidance from PROPEL, a group of programs at the Chicago-based iBIO Institute that provide resources and expertise to help life science entrepreneurs in Illinois prepare for early-stage funding. ACT has received more than $50,000 in grants, awards and competition prizes from PROPEL since 2010, which have helped the company reach this milestone.
The ECD is a single-use, fully enclosed triple lumen system that is inserted into the esophagus to modulate and control patient temperature when clinically indicated. Two lumens attach to existing temperature modulation equipment while a third lumen simultaneously allows gastric decompression and drainage. The ECD can be rapidly inserted by most trained health care professionals, in similar fashion to a standard gastric tube, and can be used to control patient temperature in the operating room, recovery room, emergency room, or ICU. No other product on the market is approved to use the esophageal environment for whole-body temperature modulation.
“As an Emergency Room physician, I know intimately the challenges associated with traditional temperature management – bulky blankets, expensive machines, and invasive catheter procedures,” said Erik Kulstad, MD, MS, ACT’s president and co-founder. “The ECD is safe, easy-to-use, and cost-effective, and we look forward to commercialization in Europe with the CE marking.”
“Illinois is a growing hub for life science entrepreneurs such as Erik,” said Barbara Goodman, senior vice president of PROPEL and the iBIO Institute. “PROPEL helps our start-up companies like ACT develop game-changing technologies and medical products and in the last six years, PROPEL’s member companies have raised more than $110 million and been issued more than 70 U.S. and international patents.”
CE marking applies to the use of the ECD in participating European Economic Area countries only and does not apply in the U.S.
ACT’s technology platform provides a novel method to control patient temperature where clinically indicated using the esophageal environment.