Entellus Medical® Secures $30 Million Financing
Entellus Medical® Secures $30 Million Financing To Expand Commercialization of Novel Treatments for Sinusitis
New treatment offers less invasive approach in $1 billion world-wide chronic sinusitis market
MINNEAPOLIS – November 17, 2009 — Entellus Medical, the Minnesota-based developer of novel, less invasive treatments for chronic conditions of sinusitis, has completed its Series D financing totaling $30MM. The Series D round was led by new investor Essex Woodlands Health Ventures and supported by existing investors Split Rock Partners and SV Life Sciences.
“This new investment gives us the resources needed to expand our product offering to the millions of sinusitis sufferers who are seeking lasting relief. The Entellus FinESS® Sinus Treatment provides a new option that minimizes the pain and recovery time compared to traditional sinus surgery, can also be done in the clinic and may reduce the need for antibiotics,” said Tom Ressemann, president and CEO of Entellus.
Ressemann said the latest round of funding will be used to expand their sales and customer support teams, and accelerate efforts to allow patients to be treated in an office-based setting. In addition, the funding will allow Entellus to launch its innovative technologies nationwide in 2010 and prepare to market internationally.
“We are excited to join Entellus Medical as an investor”, said Guido Neels, managing director at Essex Woodlands Health Ventures. “We believe FinESS is an important new medical device therapy that combines the opportunity to deliver immediate relief with lasting results for the patient, while reducing overall health care expenditures. We look forward to working with the excellent management team of Entellus Medical to realize the full potential of the company.” Guido Neels will join the board of directors of the company, effective immediately.
About Entellus Medical®
Founded in 2006, Entellus Medical is focused on providing unique solutions to address the unmet needs of ENT (ear, nose, and throat) physicians, their patients, and payers through the development of innovative device technologies and treatments. Based in Maple Grove, Minn., Entellus Medical recently introduced the FinESS Sinus Treatment, a less-invasive therapy that breaks the cycle of chronic sinusitis with immediate relief and lasting results. For more information about Entellus Medical and FinESS Sinus Treatment, please contact us at 763/463-1595 or www.entellusmedical.com.
About Chronic Sinusitis and the Entellus FinESS® Treatment
Chronic sinusitis is a disease that affects more than 1.5M patients in the U.S. annually. It is characterized by infection or inflammation in one or more of the paranasal sinuses in the head. Symptoms can include nasal congestion, headache, facial pain, or fever. More than $5.8 billion annually is spent in health care costs to treat sinusitis in the United States. One in five antibiotic prescriptions is for the treatment of sinusitis. The FinESS Sinus Treatment is designed to directly treat the drainage pathways of the major sinuses and reduce the cost associated with antibiotic usage and the need for surgery. Entellus’ innovative treatment is delivered directly to the drainage pathway without disrupting sensitive nasal cavity structures as is necessary with other procedures. As a result, it is less painful, requires little or no recovery time, and can be done in the clinic with local instead of general anesthesia, as compared to traditional sinus surgery. 80 percent of chronic sinusitis sufferers can benefit from the company’s less invasive treatments.
Availability of Entellus FinESS
For more information on FinESS treatment locations or information about Entellus Medical please contact us at 763/463-1595 or www.entellusmedical.com.