Aerin Medical raises $6.7m

Nasal airflow device developer Aerin Medical raised $6.7 million in a new round of equity financing, according to an SEC filing posted last week.

Aerin Medical is developing a novel nasal breathing repair device for treating nasal obstruction and reducing rhinitis, using radio frequency energy to reshape interior nasal tissue.

The company is looking to raise another $7.6 million in the round to bring the total up to $14.3 million, according to the filing.

The $6.7 million already raised was funded by 11 unnamed investors. Investors Targeted Technology and Launch Capital list Aerin on their portfolio pages, but have not been indicated in this round of financing.

At the head of Aerin is CEO Fred Dinger, according to the company’s site, who previously served as CEO of ENTrigue Surgical, which was snatched up for $45 million by ArthroCare (NSDQ:ARTC) in July 2013.

The company was founded by Dr. Scott Wolf, who previously founded cryolipolysis fat reducing device maker Zeltiq (NSDQ:ZLTQ), which won FDA clearance for the device in 2010.

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