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) 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 Companys website at www.aperon.com.
Media Contact:
Jean Nelson
Aperon Biosystems, Inc.
650-739-0910 x111
jnelson@aperon.com
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