Start-up ENT device maker Acclarent files to go public

Deal summary reprinted from Strategic Transactions - June 2008

Find out more about Acclarent's (sinus surgical devices) recent filing to to go public.

Established in June 2004 as ExploraMed NC1 Inc., Acclarent (which became the new name a year later) is targeting otolaryngologists with its Balloon Sinuplasty minimally invasive system for chronic sinusitis, specifically diseased frontal, sphenoid, and maxillary sinuses (but not ethmoid sinuses). Balloon Sinuplasty, which includes a guide catheter, illumination system, and guidewire sold under the Relieva brand, initially received 510(k)-clearance in 2005 and the CE Mark one year after. During the procedure, the physician uses an endoscope to view the insertion into the nasal cavity of a high-pressure balloon which is gradually inflated to clear blocked or narrowed sinus passages and ostia for sinus drainage, without removing tissue or bone. Balloon Sinuplasty improves standard functional endoscopic sinus surgery (FESS), which is known for causing extreme postoperative pain and discomfort, and may lead to major complications due to the close proximity of cutting tools to the brain and eyes. Acclarent's devices are available in more than 30 countries, mostly through third-party distributors (except in the US and UK, where the company has its own sales force). In its first three venture financings, Acclarent raised a total of $78mm including a $35mm Series C completed last year, the second highest medical device Series C behind InnerPulse's $50mm third round.

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