Aerin Announces New Funding to Further Fuel Growth

$32.5 million in new equity capital led by existing investors with participation by new lending partner

Company also secures debt facility to refinance existing loan and provide additional financial flexibility

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aerin Medical, Inc., (“Aerin” or “the Company”) a high-growth medical device company focused on expanding access to meaningful relief for millions of patients suffering from chronic ENT conditions, today announced the successful completion of two significant financial transactions. These transactions position the Company to drive additional commercial growth, advance market-leading innovation, and further expand its robust clinical evidence portfolio. The $32.5 million equity financing was led by all of Aerin's major investors: KCK MedTech, Questa Capital, OrbiMed, and Ally Bridge Group, with new participation by Ares Management Credit funds, which also provided Aerin a debt facility to refinance its existing debt and access additional capital.

“This additional funding significantly strengthens our financial position, supporting continued commercial expansion, along with investments in significant R&D and leading clinical evidence-generation that have been signatures of Aerin’s progress,” said Matt Brokaw, CEO of Aerin Medical. “The confidence demonstrated by our investors reflects the momentum we’ve built in bringing meaningful innovations to otolaryngologists and their patients.”

“We are proud to support Aerin and the significant advancements they continue to make in ENT care,” said Karen Long, Sr. Managing Director at KCK Group and Chairman of Aerin Medical Board of Directors. “This is an exciting time for Aerin as they continue to deepen their penetration in the market for large unmet medical needs in nasal obstruction and chronic rhinitis. Our focus will be on ensuring access to these critical technologies for all patients who would benefit.”

“We are excited to provide financing to Aerin as they continue to expand their footprint in ENT,” said Kris Talgo, Principal in the at Ares Credit Group. “The strength of Aerin’s management team and their strong track record of well-designed, well-studied solutions is a testament to their dedication and expertise. We look forward to supporting them in their next phase of growth.”

About Aerin Medical

Aerin Medical is a privately held, venture-backed company, headquartered in Mountain View, California. Aerin’s mission is to expand access to meaningful relief for millions of patients suffering from chronic ENT conditions. The company’s products, VivAer^® for nasal airway obstruction and RhinAer^® for chronic rhinitis, leverage Aerin’s proprietary temperature-controlled technology, which allows ENT physicians to reliably improve patients’ symptoms with unique technologies that are appealing alternatives to invasive surgery. More than 150,000 patients have been treated with Aerin Medical products to date. For more information, please visit www.aerinmedical.com and follow Aerin Medical on Facebook, X, Instagram, LinkedIn and YouTube.

Forward Looking Statements

In addition to background and historical information, this press release contains “forward-looking statements” based on Aerin ’s current expectations, forecasts and beliefs, including among other things, the statements related to commercial strategy, execution, and expansion, operational performance, and growth, above. These forward-looking statements are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Actual outcomes and results could differ materially due to a number of factors. Forward -looking statements contained in this announcement are based on information available to Aerin as of the date hereof. Aerin undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing Aerin’s views as of any date subsequent to the date of this press release and should not be relied upon as a prediction of future events. In light of the foregoing, investors and/or readers are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about Aerin.