A Medical Device Daily

Entellus Medical (Maple Grove, Minnesota) said it has completed its Series D financing totaling $30 million. New investor Essex Woodlands Health Ventures led the round, which also was supported by existing investors Split Rock Partners and SV Life Sciences.

"This new investment gives us the resources needed to expand our product offering to the millions of sinusitis sufferers who are seeking lasting relief. The Entellus FinESS Sinus Treatment provides a new option that minimizes the pain and recovery time compared to traditional sinus surgery, can also be done in the clinic and may reduce the need for antibiotics," said Tom Ressemann, president/CEO of Entellus.

Ressemann said the latest round of funding would be used to expand the company's sales and customer support teams, and accelerate efforts to allow patients to be treated in an office-based setting. In addition, the funding will allow Entellus to launch its technologies nationwide in 2010 and prepare to market internationally.

"We are excited to join Entellus Medical as an investor," said Guido Neels, managing director at Essex, who will join Entellus' board of directors. "We believe FinESS is an important new medical device therapy that combines the opportunity to deliver immediate relief with lasting results for the patient, while reducing overall health care expenditures. We look forward to working with the excellent management team of Entellus Medical to realize the full potential of the company."

Entellus recently introduced the FinESS Sinus Treatment, a less-invasive therapy designed to break the cycle of chronic sinusitis with immediate relief and lasting results.

TriVascular (Santa Rosa, California), a company that develops products for the treatment of cardiovascular disease, also reported raising $30 million in a Series B offering. Investors New Enterprise Associates, Delphi Ventures, MPM Capital and Kearny Venture Partners, the original investment syndicate, participated in the round.

Since raising a Series A round in early 2008, TriVascular says it has achieved significant milestones and sits poised to commence clinical trial activity globally. Designed to treat diseases of the aorta, both the abdominal and thoracic stent graft systems represent a technological leap forward from commercially available systems, according to the company.

In the U.S. alone, it is estimated that there are nearly 2 million people with an Abdominal Aortic Aneurysm, many with inadequate treatment options, TriVascular said. The Series B financing will fuel further investment in TriVascular's operations in Sonoma County, California as well as enable the company to build the infrastructure necessary to support clinical activity on four continents, the company said.