For Immediate Release
Date: September 12, 2011
Contact: Ashwin Pushpala (408) 483-6518
Palo Alto, CA – SinuSys Corporation, a privately-held sinus health company, today announced it has closed its Series B financing. These funds will enable the company to advance the development of its proprietary sinus dilation technology in to First in Man (FIM) studies early next year.
In commenting on the Series B close, SinuSys Chief Executive Officer and co-founder Tom Schreck said, “We have an exceptionally robust pre-clinical program to date. Most importantly, we have demonstrated a very strong in vivo in vitro correlation as well as long term patency of sinus ostia. We are very pleased that these funds can leverage these data and enable us to advance our lead product candidate, a unique and proprietary self-expanding insert, into human clinical studies in early 2012.”
About Sinusitis
Chronic sinusitis affects more than 31 million people in the United States. It is more prevalent than heart disease and asthma and has a greater impact on patients’ quality of life than chronic back pain or congestive heart failure. The majority of patients with chronic sinusitis are treated with oral antibiotics and/or nasal steroids, which can increase the risk of antibiotic resistance and cause unwanted side effects such as epistaxis (nose bleeds), nasal ulcers, and nasal and oral infections. The most effective treatments are Functional Endoscopic Sinus Surgery (FESS) and balloon dilation at high pressures, which are known to cause significant patient discomfort and are conducted in a surgical suite under general anesthesia or IV sedation. The United States healthcare system currently spends more than $8 billion annually on improving the health of patients with sinus conditions.
About SinuSys
SinuSys Corporation (www.sinusys.com) is a medical device company focused on developing new therapies to improve the sinus health of patients with chronic sinusitis. The company’s initial focus is a self-expanding medical device inserted at the ostium of the maxillary sinus, which restores functional sinus drainage and ventilation without causing patient discomfort. The insert does not require external hardware or physician training to support expansion, and can be placed in an office-based setting, mitigating the need for general anesthesia and invasive sinus surgery and minimizing patient recovery time. The insert utilizes SinuSys’ proprietary osmotic dilation technology to complement an effective out-patient procedure that can be performed by Ear, Nose and Throat (ENT) physicians with minimal additional training.