California's Spiracur has raised $35 million round of equity financing to support development of its SNaP Wound Care System--a single-use negative pressure wound therapy (NPWT) device. Maverick Capital led the round and was joined by Pinnacle Ventures, De Novo Ventures, Kleiner Perkins Caufield & Byers and New Leaf Venture Partners.
NPWT devices, which create a sub-atmospheric pressure atmosphere via a vacuum seal, are thought to speed wound healing and prevent infection. Unlike other devices of its kind, SNaP is silent, lightweight, and fits easily under a patient's clothes. Spiracur believes its discreet design will improve patient compliance with the therapy. The device was cleared by the FDA in 2009 and received CE Mark approval in 2010.
"We are excited to join Spiracur as an investor," said Maverick Capital managing partner Eric Kim, who joined Spiracur's board in connection with the financing. "We believe the company's SNaP® Wound Care System is a novel therapy that is significantly improving the treatment of patients suffering from chronic wounds. In addition, Spiracur's device is small, lightweight and easy to use, which is more attractive to patients."
- here's Spiracur's release