Ulthera Raises Series B

Ulthera Inc., a Mesa, Ariz.-based developer of a therapeutic ultrasound device for use in cosmetic procedures, has raised $22.5 million in Series B funding. New Enterprise Associates led the deal, and was joined by return backer 3i Group.

PRESS RELEASE

Ulthera, Inc., a therapeutic ultrasound medical device company serving the aesthetics market, today announced that it has received $22.5 million in a Series B round that was led by New Enterprise Associates (NEA). Existing investor 3i also participated in the round.

“There is a large, rapidly-growing market for cosmetic procedures, and Ulthera's technology appears to have several distinct advantages over existing energy-based offerings, including greater predictability of results and shorter procedure times,” said Chip Linehan, NEA General Partner, who will join the Ulthera Board of Directors. “NEA is excited to partner with Ulthera's founders and its strong, experienced management team as the company advances its pipeline of potential products utilizing this innovative technology platform.”

“As Ulthera executes our global product development and commercialization strategy, we welcome the expertise NEA brings to the company and are very pleased to have Chip join our Board,” said Matt Likens, President and CEO of Ulthera. “Clearly the company will benefit from this substantial capital infusion but we will benefit just as much from the support that NEA and our Series A investor, 3i, can provide.”

“The company has developed a micro-ablation device that safely penetrates and treats multiple layers of tissue non-invasively,” stated Likens. “Ulthera's technology is the first to combine high frequency ultrasound imaging and therapeutic treatment in a single device. This unique approach enables visualization of target layers of sub-epidermal tissue immediately before the therapeutic level of ultrasonic energy is delivered, allowing physicians to see where they are working below the skin. The epidermal layer of skin is completely spared, while deeper treatment immediately triggers the body's natural healing effect, resulting in a gradual lifting and tightening of skin tissue in and around the face.”

Paul Badawi, a director of 3i, reiterated 3i's continuing support of Ulthera and its promising technology platform. “With Ulthera's patented 'See and Treat' approach to cosmetic improvements, patients can receive optimal energy placement and minimal impact to surrounding and intervening skin tissue,” said Badawi.

The company received a CE Mark (European Conformity approval) for the Ulthera