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Cooler Heads achieves milestones in cancer patient care with innovative technology

SAN DIEGO – NuFund Venture Group highlighted the achievements of one of its portfolio companies, Cooler Heads. The medical tech company made strides in enhancing the quality of life for cancer patients undergoing chemotherapy through its portable scalp cooling technology.

Cooler Heads is transforming the market for scalp cooling, the therapy that allows chemotherapy patients to keep their hair, by making this aspect of symptom management profitable for infusion centers. Their flagship product, Amma, is an FDA-cleared, patient-administered device that doesn’t add to nursing workloads or change patient scheduling, which have been primary barriers to the broad adoption of scalp cooling. By making scalp cooling profitable for infusion centers, the company showed that they can expand access to this treatment.

“Cooler Heads is setting a new standard for scalp cooling,” Dr. Sumeet Vadera, the Cooler Heads lead at NuFund Venture Group, said. “Their technology is not only therapeutically effective but changes the business case for scalp cooling for infusion centers.”

One in 12 chemotherapy patients refuse chemotherapy due to concerns about hair loss and more than 85% of chemotherapy patients are moderately to extremely concerned about hair loss. Rates of concern about hair loss are similar for both male and female patients because going bald is a public announcement that an individual is sick.

While scalp cooling therapy is a clinical recommendation of the National Comprehensive Cancer Network and the American Society of Clinical Oncology, it has not been widely adopted because other solutions can double the amount of time a patient is in an infusion chair, preventing other patients from being treated. The portable unit from Cooler Heads changes the time needed for patients to manage hair loss during cancer treatment, making cold cap therapy accessible to a wider audience.

Over 70% of Cooler Heads’ health system accounts have not offered scalp cooling until Amma changed the financial incentives around this treatment​​. As of June 1, 2024 Cooler Heads surpassed the total number of patients in ​​the entirety of 2023 due to their rapidly expanding customer base.

Notably, 68% of all cap system sales are from reorders, indicating high satisfaction and continued use among existing customers. This statistic underscores the product’s reliability, consistency and the relationships Cooler Heads is building with its clients​​.

At the American Society of Clinical Oncology conference recently, Providence Health presented a poster on an observational study of Amma, demonstrating that Amma has outcomes consistent to one of their competitors and superior to the other. In addition, 100% of patients enrolled would recommend Amma to other patients.

Cooler Heads is in the process of raising a Series A, with over a third already soft circled. This funding will get them to over $10 million in annual recurring revenue and the next version of Amma with enhancements to improve the patient experience, usability and efficacy.

“NuFund has been an incredible partner,” Kate Dilligan, CEO of Cooler Heads, said. “Their support has been not only financial but also access to their hands-on team who have been really helpful as we continue to enter new phases of growth. In addition, they have a fantastic reputation which has brought in other investors. We are proud, especially as a San Diego based company, to have them on our cap table.”

Cooler Heads recently achieved a significant milestone with the acceptance of a poster presentation at the American Society of Clinical Oncology meeting. The poster, based on an observational study conducted by Providence, revealed that 100% of the 14 patients enrolled would recommend Amma to other chemotherapy patients. This recognition at a prestigious medical society meeting underscores Amma’s clinical value and importance to improving chemotherapy patients' quality of life​​.

“NuFund is proud to support Cooler Heads as they continue to innovate and expand their reach,” Serhat Pala, president at Nufund, said. “The milestones they have achieved so far are a testament to their dedication and the transformative impact of their technology.”

 

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