Healthcare Industry News: Genomic Health
News Release - February 22, 2006
Aesthera Corp. Secures $11 Million in Venture Funding Led by Kleiner Perkins Caufield & ByersFormer President of Guidant Vascular Intervention Joins Aesthera Board
PLEASANTON, Calif., Feb. 22 (HSMN NewsFeed) -- Aesthera Corp., a leader in developing innovative photopneumatic-based aesthetic treatment systems, today announced it has secured $11 million in its third round of venture funding. The investment was led by the preeminent venture capital firm Kleiner Perkins Caufield & Byers (KPCB), with participation from existing investors MedVenture Associates and Adams Street Partners.
The oversubscribed venture capital round further validates Aesthera's growth potential in offering the only clinically proven no-pain treatment for permanent hair reduction and skin rejuvenation. The additional investment will be used to continue driving the company's research and development of innovative applications for its proprietary Photopneumatic Technology (PPx), and to further expand Aesthera's global sales channels and marketing efforts.
"This additional financial backing represents another significant milestone for Aesthera," said Alon Maor, president and CEO of Aesthera. "Our rapidly growing installed base is the result of physicians' success with our clinically proven technology for safe, effective, pain-free light-based aesthetic treatments," he added. "Our products have delivered on the unique promise of the powerfully painless PPx(TM) technology with new clinical applications."
Aesthera also announced that Dana G. Mead, Jr., partner at KPCB and former president of Guidant Vascular Intervention, has been appointed to serve on the company's board of directors. "Dana has 24 years in the medical device business, identifying and developing new markets for products, building strong organizations and driving them to success. We are very pleased to add his industry leadership and vision to our board," said Maor.
"Physician and patient acceptance of Aesthera's Photopneumatic Technology continues to accelerate," said Dana Mead. "KPCB has confidence in the Aesthera management team, its breakthrough PPx technology and the significant business potential of effective, pain-free photopneumatic-based aesthetic treatments. I am excited to join the Aesthera team."
Since its founding in 1972, KPCB has backed entrepreneurs in over 450 ventures, including AOL, Amazon.com, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Invisalign, Netscape and Sun Microsystems.
At the American Academy of Dermatology annual meeting in San Francisco in early March, Aesthera will introduce its PPx system that combines pneumatic energy with a broadband light source. The proprietary technology more effectively positions the target tissue, painlessly treats the skin and hair, and deeply cleans the skin's pores for increased patient satisfaction.
Vic Narurkar, M.D., principal clinical investigator of PPx and member of Aesthera's Medical Advisory Board, expressed enthusiasm for the new round of venture funding. "KPCB recognizes that Aesthera represents a new generation of aesthetic device companies truly aligned with the need of the physician, and driven by their common success."
About Aesthera Corporation
Aesthera (www.aesthera.com) develops, manufactures and markets light-based aesthetic treatment systems based on proprietary Photopneumatic Technology. PPx more effectively delivers energy to dermal targets than currently available methods for hair removal, and the treatment of vascular and pigmented lesions. Clinically proven to be pain-free and up to seven times faster, Aesthera's revolutionary aesthetic system combines the proven properties of therapeutic light with gentle pneumatic energy that creates an unprecedented efficiency of photons delivered to the target. Now Aesthera allows physicians to provide powerfully painless aesthetic treatments in a system with very low cost-to-own and near-immediate profitability -- finally freeing the practice from dependence upon high patient volume to achieve a favorable return on investment.
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