Aperon Biosystems Raises $15.3 Million in Series B Financing
Canaan Partners led the round of financing and was joined by Draper Fisher Jurvetson and current investors, Onset Ventures and Alliance Technology Ventures.
Palo Alto, CA (PRWEB via PR Web
Direct) May 26, 2005 -- Aperon Biosystems, a leading innovator in asthma
management, announced the completion of a $15.3 million round of financing.
Canaan Partners led the round and was joined by Draper Fisher Jurvetson and
current investors, Onset Ventures and Alliance Technology
Ventures.
Aperon is developing the first practical in-home monitor for
daily measurement of exhaled nitric oxide (NO) for the management of asthma. The
funds from this financing will be used to finalize development of the commercial
device and initiate clinical trials.
"Since its initial funding two years
ago, Aperon has developed and demonstrated an innovative product that has the
potential to provide significant clinical benefits to a population of asthma
sufferers. This type of innovation represents exactly what we seek for companies
in our portfolio," commented Wende Hutton, Venture Partner with Canaan Partners.
Ms. Hutton will join the Aperon Board of Directors.
Asthma is a chronic
inflammatory disease of the airways in the lungs affecting more than 18 million
people in the U.S. Exhaled nitric oxide has been shown to be a marker for
inflammation and provides a means for monitoring the patient's response to
anti-inflammatory medications.
"Currently, physicians rely largely on
symptoms to manage their patients and have little in the way of either
management or diagnostic tools that are inexpensive or practical to use,"
commented John Kaiser, CEO of Aperon Biosystems. "Based on the powerful benefits
this monitoring solution can bring to patients with asthma, Aperon has the
potential to impact the management of asthma in much the same way that
monitoring glucose has had an impact on the management of
diabetes.”
About Asthma
Controlling inflammation is the central focus
for managing the underlying disease of asthma and regular use of
anti-inflammatory medications is now the mainstay for treatment of symptoms.
Clinical research shows that monitoring inflammation on a regular basis to
adjust anti-inflammatory medication could significantly improve disease
management, resulting in reduced severity of symptoms, fewer exacerbations and
optimized drug usage in individual patients. A non-invasive monitor to assess
levels of inflammation has the potential to reduce medical costs while improving
the quality of life for asthma patients.
About Aperon
Biosystems
Aperon Biosystems is a privately held, venture-backed medical
device company based in Palo Alto, CA. Aperon was founded in 2001 to develop a
biosensor platform utilizing a patented Sol-Gel technology for the highly
sensitive detection of selected analytes. The first application of this
technology is a non-invasive monitor for the daily measurement of exhaled nitric
oxide, suitable for use at physicians' offices and at home, for the management
of asthma.
For more information, visit the Company’s website at www.aperon.com.
Media
Contact:
Jean Nelson
Aperon Biosystems, Inc.
650-739-0910
x111
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Source : http://www.prweb.com/releases/2005/5/prweb244875.htm