Ulthera, developer of the first-ever ultrasound device approved by the FDA for aesthetics, announced today the recent completion of USD10.5 million in Series C venture funding. The funding was led by New Enterprise Associates (NEA) with participation by funds managed by Apposite Capital LLP.
"Ulthera’s growth has been truly impressive, especially since receiving FDA clearance in late 2009," says Justin Klein, MD, Principal at New Enterprise Associates and Ulthera board member. "NEA looks to invest in companies that bring highly differentiated technologies to meet the needs of medical professionals and consumers, and we are enthusiastic about Ulthera’s future prospects. We believe Ulthera’s versatile technology platform and its data-driven approach to clinical development set it apart as a franchise opportunity in aesthetic medicine."
Matthew E Likens, President and CEO of Ulthera, says: "The ongoing support of New Enterprise Associates and Apposite Capital LLP will allow us to continue to develop our platform technology. We look forward to building upon our first year of global commercial success by expanding our platform technology into a multitude of aesthetic and medical applications."
The funding will be used to aggressively develop new clinical applications, continue investing in Ulthera’s product development and expand the organisation to prepare for significant growth in the months and years ahead.
The Ulthera System is the first and only energy-based device cleared by the FDA for use as a non-invasive face and neck treatment with a specific indication for eyebrow lift. While it draws upon the same reliable ultrasound principles that physicians and patients have trusted for decades, it also represents the first time cosmetic physicians are able to visualise the sub-epidermal tissue and treat targeted depths of tissue without cutting the skin.
