Celleration Raises $30 Million to Accelerate Sales & Marketing
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Ultrasound wound healing device developer Celleration has successfully completed a Series D financing, raising $30 million. Heron Capital, Venture Investors and Clarian Health led the round.
Celleration, founded in 1999, will use the proceeds to expand and accelerate its sales and marketing efforts. The company’s MIST technology is FDA cleared for sale in the U.S.; some 15,000 patients have been treated to date.
Commenting on Celleration, George Arida, managing director of Venture Investors said, “[It’s] not often that a company introduces a new treatment modality that can fundamentally change expectations in terms of clinical outcomes, especially in wound care.”
The company’s therapy creates ultrasound waves that produce and propel a mist of sterile saline to a wound. The non-contact therapy replaces the coupling gel that is required for in other forms of ultrasound such as fetal monitoring, sports medicine, and physical therapy.
The benefits of the therapy have been highlighted in seven peer-reviewed publications, documenting the technology’s impact on healing wounds faster. The company recently completed a multi-center study in diabetic foot ulcers, which resulted in a statistically significant improvement in the rate of wound closure and time to wound closure.
The wound care market is a very large and a costly component of the U.S. health care system. Market data estimates that more than 89 million patients are treated annually for all wound conditions at costs in excess of $25 billion. Of these wounds, more than six million are chronic wounds involving various types of skin ulcers that are often difficult and expensive to treat. In the U.S. there are approximately 3 million cases of pressure ulcers, 1 million cases of venous stasis ulcers, and 2 million cases of diabetic foot ulcers reported annually.
3 Responses to “Celleration Raises $30 Million to Accelerate Sales & Marketing”
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That is great news. There needs to be more and more money raised for research and development of products like this. We need to be able to help people with these issues and studies are the best way to do this.
Too bad the company is blowing through the $30 Million with wanton waste. Poor management at the helm. Kevin Nikkels and Joe Bell are disasters. These two have way overpromised and have no ability to deliver. Poor investors have been taken. No one underneath them or at the VP level has any confidence in them. Massive turnover at the company. Everyone is looking to get out.
Ultrasound is the most effective physical factor for wound care. The problem is that air does not transmit ultrasnic waves. Everyone, who had seen ultrasonic diagnistic procedure knows that fel is required to create transmission of mechanical waves, which are reflected from the border of the mediums with different acoustic properties, even little air buble in gel demands removal of gel and covering of investigated surface once more. It means, that Celleration does not use ultrasound for wound treatment, but aerosol and all speculations about ultrasonic treatment factors – acoustic streaming, cavitation etc. has no any physical and acoustical basis, it is only advertisement trick about “non contact uktrasound”. It is proved by the fact that in spite of $30M investment to “celleration” the founder – Elyaz Babaev had launched another project which utilises real ultrasound applied in routine contact manner – “Arobells LLS” with its device “Quostic”. It really works but have some other problems