PLEASANTON, Calif.--(BUSINESS WIRE)--ZELTIQ, a California-based developer of ground-breaking non-invasive fat reduction technology, today announces that it has raised $25 million in Series D funding. Aisling Capital led the round and was joined by returning investors Advanced Technology Ventures, Frazier Healthcare Ventures and Venrock. Since being formed in 2005, ZELTIQ has raised approximately $50 million. Andrew Schiff, MD, Managing Partner of Aisling Capital and Clinical Assistant Professor of Medicine at the New York Presbyterian Hospital, is joining the company’s Board of Directors as a result of the investment.
“We are delighted to welcome them to this exciting investment.” “The strong investment commitment and relationship that Dr. Schiff and the Aisling team bring to the table, combined with the continuing confidence from our original investors, enables us to scale up globally and execute against our plan,” said Gordie Nye, President and CEO of ZELTIQ. “We are delighted to welcome them to this exciting investment.”
The ZELTIQ system utilizes a patented method called Cryolipolysis™ (the use of precisely controlled cooling to remove fat) that is designed to only kill fat cells. Cryolipolysis is the latest in a series of innovations by Dr. Dieter Manstein and Dr. R. Rox Anderson that originated from The Wellman Center at Massachusetts General Hospital in Boston, a teaching affiliate for Harvard Medical School.
Dr. Schiff at Aisling remarked, “ZELTIQ is making an impressive start and on the road to creating a game-changing innovation in the aesthetic field. No technology we have seen better combines efficacy, safety, and patient comfort in an entirely non-invasive procedure as does ZELTIQ. We look forward to a great collaboration with our fellow investors, Gordie, and the entire ZELTIQ team.”
About ZELTIQ
Founded in 2005, ZELTIQ™ is medical device company dedicated to the development of non-invasive procedures for the reduction of unwanted fat. The initial Cryolipolysis™ research and patents were originated at The Wellman Center at Massachusetts General Hospital in Boston, a teaching affiliate for Harvard Medical School, by Dr. Dieter Manstein and Dr. R. Rox Anderson. ZELTIQ has exclusive rights to this innovative “cool” approach to permanently removing fat. CoolSculpting is already cleared by Health Canada and the European Union for non-invasive fat layer reduction. The device is cleared by the FDA in the United States for various applications related to skin cooling during dermatologic treatments, with a pending application for non-invasive body fat reduction. Physicians and patients are encouraged to visit www.zeltiq.com to receive additional information and announcements about ZELTIQ.
Contacts Pascale Communications Amy Nesbitt, 412-327-9499 amy@pascalecommunications.com
