Consumers Welcome Relief From Acne; ThermaClear Gains Market Acceptance
Therative Closes Series C Funding and Plans Market Expansion
San Francisco, Calif. (PRWEB) May 16, 2007 -- Following the successful launch of its ThermaClear acne treatment device, Therative today announced it has closed an additional round of financing. Leading the round was new investor Bessemer Venture Partners; existing investors Foundation Capital, RWI Ventures and Band of Angels also participated. Total capital raised to date exceeds $14 million. Therative will use the funds to enhance its marketing programs and add company infrastructure to support expanded sales efforts for ThermaClear.
"Since its launch in February, ThermaClear has attracted increasing interest in the marketplace," said Peter Scocimara, CEO of Therative. "Early results demonstrate consumer demand for a new and effective treatment for acne and that ThermaClear addresses that need. We have reached a new milestone, and are putting in place additional resources to expand the availability of ThermaClear further and change the way people treat acne."
"The addition of Bessemer Venture Partners brings invaluable experience to our team," added Scocimara. "We are also pleased that all the current investors participated in this round of funding, reflecting their continued confidence in ThermaClear and our work to date. This round of funding will accelerate our efforts and our mission of providing much-desired relief and hope to the 50 million acne sufferers in this country."
"With ThermaClear, Therative has identified and met a market need for an effective, affordable acne treatment," said Rob Chandra, Managing Partner of Bessemer Venture Partners. "We at Bessemer are excited that we will be working with such a talented team, and we look forward to contributing our experience in consumer products as we help Therative roll out the ThermaClear acne treatment device."
Therative was formed in 2005 with a mission of converting complex medical treatments previously available only through medical professionals into safe and effective products for use by consumers. ThermaClear, Therative's first consumer product, is an innovative over-the-counter medical device for the treatment of mild-to-moderate inflammatory acne, the most pervasive skin condition in America today. The key is the device's proprietary Thermal Pulse Technology™ which is similar to laser treatment technology used by dermatologists to treat acne.
ThermaClear is based on a process called HEAT - Heat Enabled Acne Treatment. Unlike traditional topical acne treatments, ThermaClear delivers a controlled burst of heat directly to the pimple to accelerate the clearing of acne after it occurs. The healing thermal energy penetrates the skin to neutralize the underlying bacteria that cause pimples - attacking acne at its source and accelerating the healing process. An FDA-reviewed clinical study proved that pimples treated with ThermaClear clear in less than half the time than pimples not treated with ThermaClear`. ThermaClear is now available exclusively at www.thermaclear.com.
"The millions of people who suffer from acne have been seeking an alternative solution that works to clear pimples. With ThermaClear we have been able to provide much-desired relief," said Scocimara. "We have put pimple-fighting power directly into the hands of the consumer through this FDA-cleared medical device that's clinically proven to be effective. ThermaClear is simple to use, safe and it works."
About Therative
Therative is a pioneer in developing medical products and solutions for consumers, converting complex medical treatments previously available only through professionals into safe, effective products for use by consumers. The company's initial consumer brand is ThermaClear, a line of products including a hand-held consumer medical device and set of topical solutions for the treatment of mild-to-moderate acne. Therative is headquartered in Livermore, Calif. with offices in San Francisco, Calif. For more information, please visit www.therative.com
About Bessemer Venture Partners
Bessemer Venture Partners is the oldest venture capital practice in the United States. With offices in Silicon Valley, Boston, New York, Shanghai, Mumbai, and Bangalore, the Bessemer group manages two billion dollars of venture funds, carrying on a tradition of hands-on, active investing that has continued since 1911. Over 100 Bessemer companies have gone public, including American Superconductor, Ciena, Gartner Group, Ingersoll Rand, International Paper, Maxim, Parametric, Perseptive Biosystems, Staples, VeriSign, Veritas, and W.R. Grace. www.bvp.com
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