Medtronic adds to Intersect ENT’s $30M Series D round

Intersect ENT
Medtronic

Medtronic (NYSE:MDT) is once again backing sinus implant developer Intersect ENT, this time in a $30 million Series D round led by new investor Norwest Venture Partners.

All of Intersect’s existing "significant" backers participated in the latest round, including Kleiner Perkins Caufield & Byers, U.S. Venture Partners, PTV Sciences and Medtronic, according to a press release.

Menlo Park, Calif.-based Intersect, which is developing the Propel sinus implant to treat chronic sinusitis, drummed up $30 million in November 2010. Medtronic also participated in that round.

Intersect said it plans to use the proceeds to "continue the rapid commercial expansion in the United States for the company’s Propel and Propel mini sinus implants and to fund clinical studies of the company’s latest product, an office-based treatment for chronic sinusitis sufferers," according to the release.

"We are excited to add Norwest Venture Partners as a new investor and are grateful for the continued support of our existing investors in this round," president & CEO Lisa Earnhardt said in prepared remarks. "We see the difference our products have made in patients’ lives every day and that is what drives us to innovate. Our goal is to improve the quality of life for millions of chronic sinusitis sufferers."

Intersect is running a clinical trial called Resolve to evaluate its steroid delivery implant for patients with chronic sinusitis, placed during a routine physician office visit unlike the operating room setting required for the Propel implants. All 3 devices release the drug mometasone furoate, an anti-inflammatory steroid, directly into the sinus lining.

RSS From Medical Design & Outsourcing

  • LPKF defends LDS patent in Federal Patent Court
    Garbsen-based laser specialist LPKF today announced that it has won another key victory in the legal dispute with Motorola concerning the infringement of the patent for Laser Direct Structuring (LDS) developed by LPKF. A year ago, a lower court ruled in favor of LPKF in the patent infringement suit brought by LPKF against Motorola. Motorola […]
  • A-Laser helps Cardica produce next-generation medical devices
    Cardica, a designer and manufacturer of proprietary stapling and automated anastomotic devices for cardiac and laparoscopic surgical procedures, has partnered with precision laser-cutting and engineering firm, A-Laser, to expand and refine its line of next-generation medical devices. “For several years, we have worked with A-Laser on a number of product prototypes as well as ongoing […]
  • Procyrion CEO discusses its life-changing pump designed to heal the heart
    Ben Hertzog is the CEO of Procyrion, a Houston-based company that is developing Aortix, a custom designed pump built around a powerful micro-motor mounted on a set of expandable struts. Aortix is designed to rest and heal the heart by reducing afterload and improving blood flow to vital organs. Unlike other circulatory assist devices that […]
  • U.S. Based Qure Medical Acquires UK-Headquartered Silicone Altimex
    Qure Medical, with corporate headquarters in Twinsburg, Ohio, has acquired UK-headquartered Silicone Altimex, announced Randy Ross, President and CEO of Qure Medical. Financial terms of the agreement were not disclosed. Qure Medical provides integrated elastomer solutions to medical device manufacturers. Silicone Altimex is one of Europe’s leading independent manufacturers of cleanroom-produced silicone tubing components and […]
  • Coatings2Go is issued U.S. Patent for hydrophilic coating
    Coatings2Go, a medical device coating supplier, recently announced its receipt of a patent as it relates to hydrophilic coatings. The U.S. Patent Office has issued to Coatings2Go a patent with a grant date of July 14, 2015: U.S. Patent Number 9,080,061, “Coating Resins And Coatings With Multiple Crosslink Functionalities.” “This new patent is the third […]
  • Herrmann Ultrasonics, Inc. announces its 25 Year Anniversary
    In 1990, Thomas Herrmann, the son of Walter Herrmann, who founded Herrmann Ultraschalltechnik GmbH in 1961, established Herrmann Ultrasonics Inc. in the Chicago area. Hermann Ultrasonics, Inc. is proud to recognize a milestone year in observance of their 25th anniversary. Herrmann Ultrasonics has been focused on providing ultrasonic welding technology for various markets such as […]
  • Consumer Health Applications receive the most attention today, but the future is elsewhere
    Wearables for health fall into a wide range of technologies, functions, use cases and over-arching regulatory frameworks that developers and prospective entrants have to understand in order to effectively compete. Using an underlying taxonomy for human health, we establish a health-focused wearables taxonomy around three major categories—applications, use cases, and form factors—the three areas critical […]
  • Paralyzed men move legs with new non-invasive spinal cord stimulation
    Five men with complete motor paralysis were able to voluntarily generate step-like movements thanks to a new strategy that non-invasively delivers electrical stimulation to their spinal cords, according to a new study funded in part by the National Institutes of Health. The strategy, called transcutaneous stimulation, delivers electrical current to the spinal cord by way […]
  • SCHURTER’s new power entry module offers IP 54 protection with V-Lock cord sets
    SCHURTER is pleased to announce, that its power entry module, series 5707, now offers IP 54 protection with V-Lock cord sets at the power input, in addition to IP 65 protection to the equipment. The sealed module is ideal for use in medical equipment exposed to leaks, drips and spills, as well as equipment subject […]
  • GlobTek presents its latest level VI AC/DC adapter and connverter
    T-43086-WWVV-X.X-Q Model is an addition to GlobTek’s Level VI compliant GT-43086 family and represents GlobTek’s 6 Watt wall plug-in series of AC/DC adapters (power supplies and chargers) with International Interchangeable blades. GlobTek’s changeable input blade system with individual field replaceable input plugs, including: North America and Japan NEMA 1-15P, Australian, UK BS 1363, European CEE […]
  • Sanmina’s familiarity with FDA gets skin treatment product to market fast
    The medical market for cosmetic devices is booming. However, quickly launching new products to meet demand is becoming more challenging because device manufactures face increased regulatory scrutiny. To help meet regulatory requirements, aesthetic and other medical-device OEMs are partnering with electronics manufacturing services (EMS) companies that also offer expertise with the FDA filings necessary to […]

Leave a Reply