Dalent Medical, a Miami-based company developing innovative devices for Ear, Nose & Throat doctors is pleased to announce the closing of a $1.5m funding round.
The company has raised over $2 million from private investors since 2018. The additional funds will be used to produce inventory and ramp up sales & marketing to support the rollout of the company’s first patented product, the Sinusleeve™ balloon.
“We are very pleased to receive new capital from private investors within the medical device industry and the ENT community. This makes us feel confident we are on the right path as we take the final steps towards bringing our product to market,” said CEO Shawn McCoy.
The balloon sinus dilation sleeve will be used by ENT’s in procedures that treat Chronic Sinusitis, a condition which affects up to 30 million people in the United States. The amount of surgeries to treat this condition continues to rise as less invasive techniques offer improved patient experience, measurable quality of life improvements, and lower healthcare costs.
Dalent Medical’s well-rounded management team is led by Shawn McCoy (CEO) who brings over two decades of experience building healthcare product-focused companies from launch to exit. Dr. Agustin “Gus” Arrieta, an Ear, Nose & Throat MD, has spent the last 15 years as a surgeon in South Florida, treating patients with Chronic Sinusitis. He serves as Chief Medical Officer. Peter Flores, a biotech engineer and experienced entrepreneur, completes the c-suite in the role of CTO. An advisory board of 10 ENT and primary care doctors lend their expertise and provide additional guidance to Dalent Medical.
“In my practice, I began to notice that improvements in my tool set can have a direct impact on the quality of care. Fortunately, I joined forces with a skilled team to develop new devices that enable my colleagues to provide their patients with life-changing procedures and reduce costs,” said CMO Dr. Agustin Arrieta
“This summer is all about securing IP and FDA listing. Next quarter, we’ll be able to focus on sales and continued research & development. We hope to offer ENTs an entire line of products that are cost-effective, versatile, and easy to use. We thank our investors for believing in our vision,” said Peter Flores CTO.
The Sinusleeve balloon is expected to be available to ENTs in Florida as soon as Q3 2019 and across the nation in 2020.
Source: Company Press Release.