A Nose for IPO News

When I got sinus surgery in 2002 I told people the experience was like sticking a Weedwhacker up your nose. Treating chronic sinusitis is, in fact, a complicated process prone to complications. Three hours after I was discharged from the OR I was back in the ER with the insides of my nose feeling like I’d been snorting crushed glass.

I only wish Acclarent’s product had been an option at the time. Instead of sending a surgeon with a bone saw up a nostril, Acclarent weaves in balloon catheter, the same sort of thing used to unblock arteries. The balloon inflates, the sinus cavities reorient and the patient is fully functional in 24 hours (or so the company’s website claims).

My nose problems are not abnormal. The Centers for Disease Control estimate that 14% of the adult population suffers from sinus infections each year. That makes a sizeable market opportunity for Acclarent.

The company is one of two venture-backed startups to file for an IPO between mid-May and mid-June. It is looking to raise $86.25 million from its offering and is backed by Delphi Ventures, New Enterprise Associates (44.2%), Meritech Capital Partners (8.3%) and Versant Ventures (15.3%). Acclarent raised $76.1 million from its VCs.