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AirXpanders Lifts $10M To Finish Trials Of Reconstructive Surgery Device

25 / 01 / 2012

By Timothy Hay

Palo Alto, Calif.

AirXpanders Inc., which is developing a system to help with tissue expansion after reconstructive breast surgery, said it has turned to new and existing investors for a $10 million Series D round to finish clinical trials and get its technology on the market.

New investor Vivo Ventures led the round, providing $7 million, Chief Executive Scott Dodson said. Vivo was joined in the round by existing investors GBS Venture Partners, Heron Capital, Prolog Ventures and Western Technology Investment, he said.

Palo Alto, Calif.-based AirXpanders has raised a total of $22.1 million since its launch in 2005, Dodson said.

The company is in the midst of clinical trials for its AeroForm Patient-Controlled Tissue Expander System, an implanted technology that would be a first in the realm of reconstructive surgery, should regulators give it the green light.

The device is meant for women who have undergone a mastectomy to fight breast cancer, and who want reconstructive surgery after having the procedure.

Today, women who want silicon implants after a mastectomy must have them injected with saline on a weekly basis in a doctor's office as their bodies adjust to the implants. The process can take as long as six months, Dodson said.

AirXpanders has developed implants that feature a reservoir of CO2, he said, and come with a remote controller that can add more CO2 to the implant.

The advantage with the company's system is that it eliminates the need for injections, and also drastically cuts the number of required doctor visits, the company said.

AirXpanders says it has conducted several successful clinical trials, including a single-center study in Australia in which 10 devices were implanted in seven patients.

The company is in the midst of clinical trials in both Europe and the U.S., the CEO said. It has 14 employees, he said.

http://airxpanders.com