Zeltiq, a California-based developer of non-invasive fat reduction technology, has raised $25m in Series D funding. Aisling Capital led the round and was joined by returning investors Advanced Technology Ventures, Frazier Healthcare Ventures and Venrock.
The Zeltiq system utilises a patented method called Cryolipolysis (the use of precisely controlled cooling to remove fat) that is designed to only kill fat cells.
Cryolipolysis is the latest in a series of innovations by Dr Dieter Manstein and Dr Rox Anderson that originated from The Wellman Center at Massachusetts General Hospital in Boston, a teaching affiliate for Harvard Medical School.
Zeltiq has exclusive rights to the ‘cool’ approach to permanently removing fat. CoolSculpting is already cleared by Health Canada and the European Union for non-invasive fat layer reduction. The device is cleared by the FDA in the US for various applications related to skin cooling during dermatologic treatments, with a pending application for non-invasive body fat reduction.
Andrew Schiff, managing partner of Aisling Capital and clinical assistant professor of medicine at the New York Presbyterian Hospital, is joining the company’s board of directors as a result of the investment.
Gordie Nye, president and CEO of Zeltiq, said: “The strong investment commitment and relationship that Dr. Schiff and the Aisling team bring to the table, combined with the continuing confidence from our original investors, enables us to scale up globally and execute against our plan.”
Dr Schiff at Aisling said: “Zeltiq is making an impressive start and on the road to create a game-changing innovation in the aesthetic field. No technology we have seen better combines efficacy, safety, and patient comfort in an entirely non-invasive procedure as does Zeltiq. We look forward to a great collaboration with our fellow investors, Gordie, and the entire Zeltiq team.”