ZELTIQ, a Pleasanton, California-based developer of a non-invasive fat reduction technology, has raised $25m in Series D funding.The round was led by Aisling Capital, with participation from returning investors Advanced Technology Ventures, Frazier Healthcare Ventures and Venrock.
Since being formed in 2005, the company has raised approximately $50m.
In conjunction with the funding, Andrew Schiff, MD, Managing Partner of Aisling Capital and Clinical Assistant Professor of Medicine at the New York Presbyterian Hospital, will join the company’s board of directors.
The ZELTIQ system utilizes a patented method called Cryolipolysis™ that is designed to only kill fat cells.
Commenting on the round, Gordie Nye, President and CEO of ZELTIQ, was quoted as saying: “The strong investment commitment and relationship that Dr. Schiff and the Aisling team bring to the table, combined with the continuing confidence from our original investors, enables us to scale up globally and execute against our plan”.
FinSMEs
02/06/2010