Candesant Biomedical Announces $35M in Series B Financing to Advance Commercialization of Brella™, the First and Only FDA-cleared 3-Minute SweatControl Patch™
NASHVILLE, Tenn., June 6, 2023 /PRNewswire/ -- Candesant Biomedical, Inc. ("Candesant"), a private medical device company focused on the development and commercialization of non-invasive treatments for hyperhidrosis or excessive sweating, today announced the closing of a Series B financing, raising a total of $35 million to advance the commercialization of Brella, the first-and-only FDA-cleared 3-Minute SweatControl Patch. The financing was led by KCK MedTech, a venture capital firm specializing in medical technologies, along with other investors including Polaris Partners, Astia Fund, and Correlation Ventures.
"We are proud to secure this financing supporting the ongoing commercialization efforts of Brella and its national launch in 2024," said Niquette Hunt, Founder and CEO of Candesant. "With this investment, we look forward to advancing our Brella Early Experience Program later this year with select practices within the U.S. and achieving our mission to help millions of Americans affected physically, emotionally, and financially by excessive underarm sweating."
Brella was cleared by the U.S. Food and Drug Administration (FDA) in April 2023 for the reduction of excessive underarm sweating in adults with primary axillary hyperhidrosis. Brella provides a new in-office approach to sweat control that is fast, non-invasive, needle-free, aluminum-free, comfortable, and affordable, with results lasting three to four months.1
"The market is long overdue for a convenient, efficacious, and affordable option for excessive sweating, and we believe Brella has the potential to set a new standard of care in hyperhidrosis management for both providers and patients," said Karen Long, Senior Managing Director of KCK MedTech. "We are pleased to be supporting Candesant Biomedical as they prepare to launch this exciting new product, Brella."
Providers interested in participating in the Brella Early Experience Program or learning more about launch details can visit Candesant Biomedical. Patients interested in learning more about Brella, including when and where it will be available in their area, can sign up to receive product availability updates at Candesant Biomedical.
About Hyperhidrosis or Excessive Sweating
About Candesant Biomedical Inc.
"Candesant" and the Candesant logo are registered trademarks of Candesant Biomedical Inc. "Brella™", the Brella logo, and "SweatControl Patch™" are trademarks of Candesant Biomedical Inc.
View original content to download multimedia:https://www.prnewswire.com/news-releases/candesant-biomedical-announces-35m-in-series-b-financing-to-advance-commercialization-of-brella-the-first-and-only-fda-cleared-3-minute-sweatcontrol-patch-301843035.html
SOURCE Candesant Biomedical, Inc.