Sinexus Raises $20 Million

Sinexus Inc. a Palo Alto, Calif.-based medical device company is focused on the treatment of chronic sinusitis, has raised $20 million in Series B funding. PTV Sciences led the round, and was joined by return backers Kleiner Perkins Caufield & Buyers and U.S. Venture Partners. The company also named Lisa Earnhardt as CEO. She previously was president of Boston Scientific's cardiac surgery unit.  

 

PRESS RELEASE

 

Sinexus, Inc. made two key announcements today: Lisa

Earnhardt joined as President & CEO and PTV Sciences has teamed up with their premier VC backers in a $20 Million Series B financing. This financing round was led by PTV Sciences along with existing investors Kleiner Perkins Caufield & Byers and U.S. Venture Partners.

 

Earnhardt joined Sinexus in March 2008. Well-known for her leadership in the medical device industry, Lisa most recently was the President of Boston Scientific's Cardiac Surgery division. She played an instrumental role in the sale of that business to the Getinge Group in January 2008. Previously, she held a variety of sales and marketing positions within Guidant's Cardiac Rhythm Management and Cardiac Surgery divisions.

 

Lisa has a B.S. in Industrial Engineering from Stanford University and an M.B.A. from Northwestern's Kellogg School of Management, where she serves on the Advisory Board. PTV Sciences, based in Austin, Texas, is a leading life science venture capital firm.

 

Joining the Board of Directors of Sinexus will be Evan Melrose, M.D. Managing Director of PTV Sciences.

 

“We are delighted that PTV Sciences and Dr. Melrose have joined with us to bring our innovative chronic sinusitis therapy to market,” said Earnhardt. “Sinexus will benefit from PTV's domain expertise and passion for advancing patient care.”

 

“Sinexus has assembled a strong team that is developing compelling solutions for Ear, Nose & Throat physicians and their patients. We look forward to joining the Sinexus team,” added Dr. Melrose.

 

About Sinexus

Sinexus, Inc. (www.sinexusinc.com) is a development-stage medical device company that is pioneering novel therapies for Ear, Nose & Throat (ENT) physicians to utilize in providing improved treatment for their patients. Sinexus' initial focus is treating patients with Chronic Rhinosinusitis, a debilitating chronic condition that affects one out of seven adults in the United States.