Healthcare Industry News: S Series
News Release - March 22, 2016
Aerin Medical, Developer of Non-invasive Treatments for Nasal Breathing Disorders, Announces $16.7 million Series C Financing
SUNNYVALE, Calif., March 22, 2016 -- (Healthcare Sales & Marketing Network) -- Aerin Medical, Inc., a privately held medical device company, announced the closing of a $16.7 million Series C financing round. Aerin'S Series C financing was completed in two stages. The initial closing of $6.1 million was led by the Targeted Technology Fund, and the second closing of $10.6 million was led by the KCK Group. As part of this financing Nael Kassar of KCK Group and Peter Savas of Targeted Technology Fund have joined current members Greg Garfield, Kern Bhugra, Greg Young, Mark Deem, Fred Dinger and Scott Wolf on the Aerin Board of Directors. "We are extremely excited to have Targeted Technology and KCK as our lead investors. They are both experienced groups with track records of building highly innovative and successful companies," said CEO Fred Dinger. "The funds will be utilized for building clinical evidence and establishing early commercialization in select markets."Aerin has developed a unique treatment platform for the physician's office, utilizing non-ablative radiofrequency energy to selectively target and remodel tissues contributing to nasal congestion. The company's non-invasive treatments are intended to address nasal breathing disorders caused by anatomic obstruction and mucosal dysfunction. Clinical studies and early clinical use in over 100 patients in both the US and Europe have demonstrated that Aerin's treatments are able to quickly alleviate symptoms with minimal patient discomfort and durable results. "Our non-invasive treatments are well suited to bridge the enormous gap between medical management and surgical interventions for this very large group of patients," said Dinger.
About Aerin Medical, Inc.
Aerin Medical is a medical device company that is developing a new class of non-invasive treatments to improve symptoms of nasal breathing disorders in patients. Aerin has offices in Austin, Texas; Sunnyvale, California; and Singapore.
About TTF
Targeted Technology is a San Antonio-based venture capital firm which focuses on early stage investments in companies that can advance ground breaking or disruptive technologies to significantly improve the quality and cost of medical care. For more information, please visit www.targetedtech.com.
About KCK
KCK Group is a family investment fund that invests in medical technology companies.
Source: Aerin Medical
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