Suneva Medical, Inc., a Santa Barbara, CA-based aesthetics company, raised $35m in debt and equity capital.
The new capital was structured to be comprised of a growth-capital term loan, a working capital facility, and a Series B equity round financing of $20m. The Series B round was led by Polaris Partners, with an affiliate of HealthCare Royalty Partners providing the growth-capital term loan and also participating in the Series B round. Other existing investors participated in the round, and the working capital facility was provided by Comerica Bank. The financing includes up-front and product-related milestone investments, and Brian Chee, Managing Partner at Polaris Partners, joined Suneva’s Medical Board of Directors.
Led by Nicholas L. Teti, Jr., Chairman and Chief Executive Officer, Suneva Medical is an aesthetics company focused on developing, manufacturing and commercializing novel, differentiated products for the general dermatology and aesthetic markets.
The company currently markets:
– ArteFill® in the US, Korea, and Singapore;
– ReFissa® and Regenica® Skincare in the U.S. and
– Bellafill® in Canada.