MISGAV, Israel, April 28, 2015 /PRNewswire/ --
S.T. Stent, a portfolio company of Trendlines Medical, developing a removable nasal stent for implantation following sinus surgery, recently completed a $450k raise. Participants in the raise included private investors from Israel and abroad.
Millions of people suffer from chronic sinusitis, an inflammation of the sinuses caused by infection or allergy and characterized by facial pain and pressure, nasal congestion, and headaches. In some cases, when drug treatments are inadequate, Functional Endoscopic Sinus Surgery (FESS) is required. Up to 30% of these surgeries fail due to scarring and recurrent inflammation that closes the nasal openings and requires revision surgery. The market seeks a safe, effective solution to reduce the need for revision surgery.
S.T. Stent has developed a removable stent for insertion after surgery that keeps the sinus cavity open for up to 28 days, long enough for the sinus tissue to heal. Removal of the stent is a fast and simple procedure performed in the doctor's office, without the need for anesthesia. The stent improves patient outcomes and reduces the probability of revision surgeries. Additional markets for S.T. Stent include nose job failures, chronic allergic rhinitis, and as a direct stenting alternative to replace sinuplasty.
Joseph Flomenbilt, Ph.D., CEO of S.T. Stent, remarks: "I am extremely pleased by the level of interest in our Company and the speed with which we closed this investment round. The funds will enable us to approach device evaluation in humans ("First in Man") with significant statistics and gain regulatory approval of the S.T. Stent device."
Eran Feldhay, M.D., CEO of Trendlines Medical, adds: "In their first year at Trendlines Medical, S.T. Stent has made incredible progress toward the development of their product. We take great pride in S.T. Stent's advances in bringing a truly innovative improvement to sinus surgery."
The Trendlines Group is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building.
SOURCE S.T. Stent