MINNEAPOLIS, Minnesota — Entellus Medical, which is developing a less-invasive therapy for chronic sinusitis, has closed a $30-million round of funding.
The three-year-old company will use the funding to expand its sales and customer support teams, and prepare to launch its sinus-treatment system in Europe.
Entellus has raised $57 million to date, Finance and Commerce reported.
The company’s latest round of financing was led by new investor Essex Woodlands Health Ventures and supported by existing investors Split Rock Partners and SV Life Sciences, according to the statement.
Entellus’ FinESS sinus treatment is designed to relieve the need for antibiotics or invasive surgery to treat chronic sinusitis, a condition in which the cavities around the nasal passage become inflamed and swollen, interfering with nasal drainage. The company says its treatment reduces a patient’s recovery time, because it doesn’t require removing bone or sinus tissue.
A key challenge for the company will be convincing insurers to cover its sinus treatment in an office setting, Finance and Commerce reported. The therapy is currently available at hospitals and medical offices.
On March 11, Chicago’s first startup demo day and conference will take place in the heart of downtown Chicago on the 12th floor of 200 S. Wacker Drive. midVentures25 has gathered 25 investor-ready startups from the Midwest to compete for over $10,000 in products and services from event organizers and partners.The 25 companies, chosen on merit for participation, will demo their products and services to over 500 members of the Midwest technology community. An expert panel of judges including Andrew Mason, founder and CEO of Groupon, and Chuck Templeton, founder of OpenTable, will choose the top five finalists to give 3-minute pitches to the entire audience. From the top five, one winner will be chosen by the judges.
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[...] month, Entellus closed a $30 million round of funding that was led by new investor Essex Woodlands Health Ventures and supported by existing investors [...]
Comment by Minnesota’s Entellus Medical treats first sinusitis patient in office-based study : MedCity News — March 6, 2010 @ 6:07 p.m. 5:53 pm
[...] of interventional cardiovascular devices in Plymouth, which raised $30 million in March, and Entellus Medical, developer of devices to treat sinus problems in Maple Grove, which raised $30 million in [...]
Comment by Midwest healthcare start-ups attract $780M in 2009; down 26% from 2008 : MedCity News — March 6, 2010 @ 6:07 p.m. 1:14 pm
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