SUNNYVALE — Aerin Medical, a privately held medical device company focused on non-invasive procedures for treating nasal airway conditions, announced the closing of a $48 million equity financing. New investor Questa Capital led the round with participation by OrbiMed and existing investor KCK Group.
Proceeds from the financing will be used to accelerate commercial growth, support new clinical studies, and develop new products to better serve otolaryngologists (ear, nose and throat physicians or “ENTs”) and their patients. As part of the investment, Questa Capital Founder and Managing Partner Ryan Drant will join the Aerin board of directors.
Aerin provides ENTs with tissue-sparing solutions for the treatment of nasal conditions to improve patient quality of life. ENT physicians use the company’s VivAer® and RhinAer® platform technologies to treat patients suffering from nasal airway obstruction and chronic rhinitis, respectively—prevalent and debilitating conditions that affect tens of millions of people in the U.S. annually.
The company also announced the appointment of seasoned medical device executive Matt Brokaw as President and Chief Executive Officer. He joins an experienced management team with a deep commitment to the ENT specialty. Brokaw has a long record of commercial leadership, building successful ENT businesses at companies including Tusker Medical, Spirox, Entellus Medical, Stryker, Acclarent, Johnson & Johnson, and Smith+Nephew.
“Aerin is primed for its next phase of growth, propelled by non-invasive treatments embraced by patients, and in-office procedure options that are increasingly important to the ENT specialty,” said Brokaw. “I’m tremendously excited to join the team at this critical period, and I look forward to working in close partnership with the otolaryngology community and this experienced group of healthcare investors.”
Karen Long, Managing Director at KCK and Chairman of Aerin’s Board of Directors said, “We’re thrilled to add Matt’s leadership and operating experience to Aerin along with the business-scaling expertise and long-term capital partnership of Questa and OrbiMed. With these partners and Matt at the helm, we have all the pieces in place to continue building a strong, sustainable growth company.”