SUNNYVALE, Calif.--(BUSINESS WIRE)--Aerin Medical Inc., a company dedicated to providing Ear, Nose and Throat (ENT) physicians with non-invasive solutions for the treatment of chronic nasal conditions, today announced it has recently closed a $60 million equity financing. The financing was led by new investor Ally Bridge Group, with all existing major investors KCK MedTech, Questa Capital and OrbiMed also participating. The company intends to use the proceeds to scale commercialization and expand market access to meet the demand from physicians and their patients.
“Ally Bridge is pleased to lead this financing to accelerate Aerin’s growth, appreciating the company’s highly differentiated strengths in addressing conditions that significantly affect quality of life for millions of patients,” said Frank Yu, founder, CEO and CIO of Ally Bridge Group. “Aerin is well-positioned to continue its strong growth trajectory as a leading innovator in otolaryngology.”
“Since launching VivAer® and RhinAer®, Aerin has been committed to partnering with the otolaryngology community to lay the right foundation for their use—including a dedication to robust clinical data evidenced by 10 new peer-reviewed clinical publications delivered in the last year alone,” said Matt Brokaw, CEO of Aerin Medical. “We appreciate the resulting enthusiastic reception from ENT physicians and their patients, and the commitment from this premier group of private and public healthcare investors.”
The company also announced that Ally Bridge Group managing director Kevin Reilly has joined Aerin Medical’s Board of Directors.
“Ally Bridge Group has a track record of identifying high-impact global healthcare innovations and partnering with the strong teams behind them to accelerate scalable growth,” said Karen Long, Managing Director at KCK MedTech and chairman of Aerin’s Board of Directors. “We’re thrilled to welcome Kevin Reilly and Ally Bridge to our strong syndicate fueling Aerin’s next phase of growth alongside existing partners Questa and OrbiMed.”
VivAer and RhinAer leverage the company’s proprietary temperature-controlled, radiofrequency technology to address two nasal conditions that have limited treatment options but affect sizeable patient populations. VivAer, which launched in the U.S. in 2018, is used to treat nasal obstruction, a condition that affects 20 million Americans.1 RhinAer was launched in the U.S. in 2020 for the treatment of chronic rhinitis. More than 60,000 patients have been treated with Aerin Medical products to date. Both non-invasive treatments can be performed in the physician office setting with local anesthetic and are backed by a growing body of evidence supporting their long-lasting efficacy.
About Aerin Medical
Aerin Medical is a privately held, venture-backed company, with U.S. offices in California and Texas. Aerin’s mission is to provide ENT physicians with non-invasive solutions for the treatment of chronic nasal conditions. The company’s products, VivAer® for nasal airway obstruction and RhinAer® for chronic rhinitis, leverage Aerin Medical’s proprietary temperature-controlled technology, which allows ENT physicians to reliably improve patients’ symptoms with in-office procedures performed with local anesthetic. For more information, please visit www.aerinmedical.com and follow Aerin Medical on Facebook, Twitter, Instagram, LinkedIn and YouTube.
1 Value calculated based on 2014 US population estimate from US Census and World Bank data in conjunction with incidence numbers cited in: Stewart M, Ferguson BJ, Fromer L. Epidemiology and burden of nasal congestion. Intl J Gen Med. 2010;3:37-45.
