Aerin Medical, Inc., an Austin, Texas-based medical technology company, closed on a $50m non-dilutive term loan agreement with CRG LP.
Aerin received $35m at closing and will receive an additional $15m in two tranches upon achieving certain milestones.
The company used approximately $16.5 million of these proceeds to retire its existing debt. The remaining proceeds will be used to accelerate its sales and marketing reach and to launch its next product.
Led by Fred Dinger, Chief Executive Officer, Aerin Medical focuses on improving the quality of life for patients suffering with nasal airway disorders through the development and commercialization of disruptive minimally-invasive treatments
The company manufactures and markets the Vivaer® Nasal Airway Remodeling System for the treatment of nasal obstruction. The Vivaer® treatment is a minimally invasive procedure, performed in a physician’s office.