Intersect ENT, a subsidiary of

Medtronic Medtronic plc is an American medical device company. The company's operational and executive headquarters are in Minneapolis, Minnesota, and its legal headquarters are in Ireland due to its acquisition of Irish-based Covidien in 2015. While it ...

, is a health care equipment company based in

Menlo Park, California Menlo Park is a city at the eastern edge of San Mateo County within the San Francisco Bay Area of California in the United States. It is bordered by San Francisco Bay on the north and east; East Palo Alto, Palo Alto, and Stanford to the south; ...

. It manufactures drug-delivery devices used by Ear, Nose & Throat (ENT) clinicians in the treatment of

sinusitis Sinusitis, also known as rhinosinusitis, is inflammation of the nasal mucosa, mucous membranes that line the paranasal sinuses, sinuses resulting in symptoms that may include thick Mucus#Respiratory system, nasal mucus, a nasal congestion, plugg ...

. Intersect ENT is best known for developing the first bioabsorbable drug-eluting sinus stent

PROPEL Propel or propelling may refer to: * Propulsion, to push forward or drive an object forward * Samsung A767 Propel, a mobile phone ** Samsung i627 Propel Pro * Propel Fitness Water, a drink from the makers of Gatorade * Propel (PHP), an object-r ...

, which delivers anti-inflammatory medication directly to the sinuses. The company holds over 20 issued patents in the United States and more than 80 patents and patent applications worldwide. The company was named on the

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

list of ''America's Most Promising Companies'' and was also on the ''Fierce 15'' list of ''Most Promising Companies'' in 2013.

History

Intersect ENT was founded in 2003 by Don Eaton who conceived of the product over dinner with ENT surgeon, Mary Lynn Moran, MD. The company received its Series A funding in 2006, prompting the hiring of a team to develop the product. It was originally headquartered in

Palo Alto, California Palo Alto (; Spanish language, Spanish for "tall stick") is a charter city in the northwestern corner of Santa Clara County, California, United States, in the San Francisco Bay Area, named after a Sequoia sempervirens, coastal redwood tree kno ...

, then moved to

Menlo Park, CA Menlo Park is a city at the eastern edge of San Mateo County within the San Francisco Bay Area of California in the United States. It is bordered by San Francisco Bay on the north and east; East Palo Alto, Palo Alto, and Stanford to the south ...

in April 2012 to a new 32,000-foot facility. The facility houses all of its business and manufacturing operations. Prior to the company becoming public, venture capital investors in the company include medical device company

Medtronic Inc. Medtronic plc is an American medical device company. The company's operational and executive headquarters are in Minneapolis, Minnesota, and its legal headquarters are in Ireland due to its acquisition of Irish-based Covidien in 2015. While it ...

and venture capital firms

Kleiner Perkins Caufield & Byers Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs ...

U.S. Venture Partners U.S. Venture Partners (USVP) is a venture capital investment firm specializing in early-stage ventures in enterprise software, cybersecurity, consumer, e-commerce, healthcare, and IT-enabled healthcare services. The venture capital partnership ...

, PTV Sciences and

Norwest Venture Partners Norwest Venture Partners (Norwest) is an American venture and growth equity investment firm. The firm targets early to late-stage venture and growth equity investments across several sectors, including cloud computing and information technology, ...

. In 2013, it received $30 million in a series D round of financing led by Norwest Venture Partners, and included all named investors. Intersect ENT announced that the funding would be used for commercial expansion of its PROPEL and PROPEL mini devices, as well as clinical studies for additional devices manufactured to add to the company's portfolio of drug-delivery products. In 2014, Intersect ENT went public on the

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

with an offering of 5,750,000 shares of common stock. It began officially trading on July 24, 2014. In August 2021,

announced that it would acquire Intersect for $1.1 billion. The acquisition completed in May 2022.

Products

Intersect ENT develops products for Ear, Nose and Throat conditions as well as the treatment of sinusitis. Its most known device is the Propel mometasone furoate implant that is used after sinus surgery to keep the sinus passageways open and aid in the healing process by delivering an anti-inflammatory steroid directly to the sinuses. The company began clinical trials of the device in 2011 with a double-blind pilot study, and has completed three clinical studies in total. Intersect ENT received

FDA The United States Food and Drug Administration (FDA or US FDA) is a federal agency of the Department of Health and Human Services. The FDA is responsible for protecting and promoting public health through the control and supervision of food s ...

pre-market approval for Propel in August 2011 and for a mini version in November 2012. In 2014, it began clinical studies for its RESOLVE device, an in-office treatment for chronic sinusitis, designed to be an alternative to surgery and oral steroid pills.

References

{{reflist, 2

External links

Intersect ENT company homepage

SINUVA product homepage
American companies established in 2003 Health care companies established in 2003 Companies based in Menlo Park, California Companies formerly listed on the Nasdaq 2014 initial public offerings 2022 mergers and acquisitions Medical technology companies of the United States Medtronic