Aerin Medical, a privately held medical device company focused on non-invasive procedures for treating nasal airway conditions, has closed a $48 million equity financing.
Nasal airway obstruction conditions affect tens of millions of people in the U.S. annually.
Aerin Medical provides ENT specialists with tissue-sparing solutions for the treatment of nasal conditions to improve patient quality of life. ENT physicians use the company’s FDA-cleared VivAer® and RhinAer® platform technologies to treat patients suffering from nasal airway obstruction and chronic rhinitis, respectively.
IN announcing the closure of its investment round, the company stated that new investor Questa Capital led the round with participation by OrbiMed and existing investor KCK Group. Proceeds from the financing will be used to accelerate commercial growth, support new clinical studies, and develop new products to better serve otolaryngologists and their patients. As part of the investment, Questa Capital Founder and Managing Partner Ryan Drant will join the Aerin board of directors.
The company also announced the appointment of seasoned medical device executive Matt Brokaw as President and Chief Executive Officer. He joins an experienced management team with a deep commitment to the ENT specialty. Brokaw has a long record of commercial leadership, building successful ENT businesses at companies including Tusker Medical, Spirox, Entellus Medical, Stryker, Acclarent, Johnson & Johnson, and Smith+Nephew.
“Aerin is primed for its next phase of growth, propelled by non-invasive treatments embraced by patients, and in-office procedure options that are increasingly important to the ENT specialty,” said Brokaw.
“I’m tremendously excited to join the team at this critical period, and I look forward to working in close partnership with the otolaryngology community and this experienced group of healthcare investors.”
Source: Globe newswire