Intersect ENT Closes $30M Round of Financing

Intersect ENT, a Palo Alto, CA-based medical device company that has developed a bioabsorbable drug-eluting stent to treat patients with chronic sinusitis, closed a $30m round of financing.
The company will use the new capital to commercialize its initial product as well as build a portfolio of products for conditions treated by Ear, Nose, and Throat (ENT) surgeons.
Medtronic joined existing investors PTV Sciences, Kleiner Perkins Caufield & Byers and U.S. Venture Partners.
In conjunction with the funding, Mark Fletcher, President of the ENT/Neurologic Technologies Business at Medtronic, will join Intersect ENT’s board of directors.

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