Entellus Medical\u00ae Secures $30 Million Financing To Expand Commercialization of Novel Treatments for Sinusitis<\/p>\n
New treatment offers less invasive approach in $1 billion world-wide chronic sinusitis market<\/b><\/p>\n
MINNEAPOLIS \u2013 November 17, 2009 <\/b>\u2014 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.<\/p>\n
\u201cThis 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\u00ae 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,\u201d said Tom Ressemann, president and CEO of Entellus.<\/p>\n
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.<\/p>\n
\u201cWe are excited to join Entellus Medical as an investor\u201d, said Guido Neels, managing director at Essex Woodlands Health Ventures. \u201cWe 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.\u201d Guido Neels will join the board of directors of the company, effective immediately.<\/p>\n
About Entellus Medical\u00ae<\/b> About Chronic Sinusitis and the Entellus FinESS\u00ae Treatment<\/b>
\nFounded 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<\/a>.<\/p>\n
\nChronic 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\u2019 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\u2019s less invasive treatments.<\/p>\n