Friday, September 2, 2011

Intersect ENT Adds $15.5M

releasing implant for treating sinusitis, has added $15.5M, completing out a round of funding first announced in November of 2010, according to a regulatory filing by the firm. The funding comes as the company received U.S. FDA approval for its product. The firm had said in November that it raised $30M from KPCB, Medtronic, PTV Sciences, and US Venture Partners, but according to regulatory filings only collected half that amount. It appears that the approval may have triggered a milestone funding of the remainder of that round from the company's backers. More information »