The Physio-Control-backed company, which develops cooling products to treat brain injury, has filed for a $13.8m initial public offering.

BeneChill, a US-based medical device maker backed by defibrillator manufacturer Physio-Control, has targeted $13.8m from an initial public offering on the New York Stock Exchange.

Founded in 2003, BeneChill is developing rapid cooling products to treat brain ischemia and traumatic brain injury. It has raised approximately $41.6m in equity and $600,000 in debt since then, according to regulatory filings.

The company intends to use the proceeds from the IPO to funds its operations over the next two years as…