Intersect ENT, a medical device company for ears blockages formerly known as Sinexus until July, has raised $30m in its latest round from a consortium including healthcare company Medtronic.
Mark Fletcher, president of the ears, nose and throat (ENT) and neurologic technologies business at Medtronic, will join Intersect ENT’s board.
Medtronic joined existing investors, venture capital (VC) firms PTV Sciences, Kleiner Perkins Caufield & Byers and US Venture Partners in the consortium. The three VCs previously invested $20m in Intersect ENT’s series B round in June 2008 when the company also hired its current chief executive, Lisa Earnhardt.
Intersect ENT has nine patents and more than 50 pending for its drug delivery technology.