Aerin Medical Secures $60 Million in Equity Financing

Aerin Medical Inc. has closed $60 million in equity financing led by new investor Ally Bridge Group. All existing major investors KCK MedTech, Questa Capital and OrbiMed also participated in the latest financing round.

“Ally Bridge is pleased to lead this financing to accelerate Aerin’s growth, appreciating the company’s highly differentiated strengths in addressing conditions that significantly affect quality of life for millions of patients,” said Frank Yu, founder, CEO and CIO of Ally Bridge Group. “Aerin is well-positioned to continue its strong growth trajectory as a leading innovator in otolaryngology.”

The company intends to use the proceeds to scale commercialization and expand market access to meet the demand from physicians and their patients.
 
“Since launching VivAer and RhinAer, Aerin has been committed to partnering with the otolaryngology community to lay the right foundation for their use—including a dedication to robust clinical data evidenced by 10 new peer-reviewed clinical publications delivered in the last year alone,” said Matt Brokaw, CEO of Aerin Medical. “We appreciate the resulting enthusiastic reception from ENT physicians and their patients, and the commitment from this premier group of private and public healthcare investors.”
 
The company also announced that Ally Bridge Group managing director Kevin Reilly has joined Aerin Medical’s Board of Directors.
 
“Ally Bridge Group has a track record of identifying high-impact global healthcare innovations and partnering with the strong teams behind them to accelerate scalable growth,” said Karen Long, managing director at KCK MedTech and chairman of Aerin’s Board of Directors. “We’re thrilled to welcome Kevin Reilly and Ally Bridge to our strong syndicate fueling Aerin’s next phase of growth alongside existing partners Questa and OrbiMed.”
 
VivAer and RhinAer leverage the company’s proprietary temperature-controlled, radiofrequency technology to address two nasal conditions that have limited treatment options but affect sizeable patient populations. VivAer, which launched in the United States in 2018, is used to treat nasal obstruction, a condition that affects 20 million Americans.¹ RhinAer was launched in the Umited States in 2020 for the treatment of chronic rhinitis. More than 60,000 patients have been treated with Aerin Medical products to date. Both non-invasive treatments can be performed in the physician office setting with local anesthetic and are backed by a growing body of evidence supporting their long-lasting efficacy.
 
Aerin Medical is a privately held, venture-backed company, with U.S. offices in California and Texas. Aerin’s mission is to provide ENT physicians with non-invasive solutions for the treatment of chronic nasal conditions. The company’s products, VivAer for nasal airway obstruction and RhinAer for chronic rhinitis, leverage Aerin’s proprietary temperature-controlled technology, which allows ENT physicians to reliably improve patients’ symptoms with in-office procedures performed with local anesthetic. More than 60,000 patients have been treated with Aerin Medical products to date. 

*Individual results may vary.

Reference
¹ Value calculated based on 2014 US population estimate from US Census and World Bank data in conjunction with incidence numbers cited in: Stewart M, Ferguson BJ, Fromer L. Epidemiology and burden of nasal congestion. Intl J Gen Med. 2010;3:37-45.