Dalent Medical, a Coral Gables-based company developing devices for Ear, Nose & Throat doctors, announce the closing of a $1.5 million funding round from investors including Miami Angels.
The funds will be used to produce inventory and ramp up sales & marketing to support the rollout of the company’s first patented product, the Sinusleeve balloon. “This makes us feel confident we are on the right path as we take the final steps towards bringing our product to market,” said Dalent Medical CEO Shawn McCoy, in a statement.
The balloon sinus dilation sleeve will be used by ENTs in procedures that treat Chronic Sinusitis, a condition that affects up to 30 million Americans. As the number of surgeries to treat this condition continues to rise, less invasive techniques offer improved patient experience, measurable quality of life improvements, and lower healthcare costs, the company said. The Sinusleeve balloon is expected to be available to ENTs in Florida later this year and mationally in 2020, the company said.
McCoy brings over two decades of experience building healthcare product-focused companies from launch to exit, including Medical Solutions Distribution Group, a national distributor of diabetic supplies. Dr. Agustin “Gus” Arrieta, an Ear, Nose & Throat MD who spent the last 15 years as a surgeon in South Florida, treating patients with Chronic Sinusitis, is CMO and Peter Flores, a biotech engineer, is CTO. Dalent, founded in 2017, is also guided by an advisory board of 10 ENT and primary care doctors.
“In my practice, I began to notice that improvements in my tool set can have a direct impact on the quality of care. Fortunately, I joined forces with a skilled team to develop new devices that enable my colleagues to provide their patients with life-changing procedures and reduce costs,” said Arrieta.
In total, Dalent Medical has raised more than $2 million, the company said.
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