EarLens said it raised some $36 million in an equity round for the hearing aid technology it’s developing that uses infrared rather than sound waves.
The Redwood City, Calif.-based company, which is led by a former Abbott Vascular honcho, said 22 unnamed investors had participated in the round as of Feb. 24. EarLens is hoping to raise a total of $38.8 million, according to a regulatory filing.
EarLens is led by William Facteau, the former general manager of Abbott Vascular’s endovascular business, according to the EarLens site. Prior to joining EarLens as chairman, president & CEO in November 2013, Facteau was president of Acclarent, which Johnson & Johnson‘s (NYSE:JNJ) Ethicon divison bought for $785 million in 2010.
Chris Walker contributed to this report.