A fierce woman is in charge of a now-public Fierce 15 company
Affiliation: Intersect ENT
The med tech IPO market is hot--for companies led by males and Lisa Earnhardt's Intersect ENT. The company became a member of the Fierce 15 last year.
Since its IPO worth $63.3 million in July, the company's stock is up by about 33%, and Intersect ENT has become a member of the Russell 2000 Index of small-cap companies. Intersect makes the Propel dissolvable sinus implant to treat chronic sinusitis, which the company says afflicts one in 8 adults in the U.S. and is a leading cause of lost productivity for employers. ENT stands for ear, nose and throat, conditions of which Intersect aims to treat.
"We are also delighted to have completed our IPO, which facilitates our efforts to bring our steroid-releasing implant technology to many more patients by helping us to expand our commercial footprint as well as to advance our pipeline of novel products for use in the office setting," Earnhardt said in a release.
More than 10,000 patients have been treated with the Propel implant, the company told FierceMedicalDevices upon becoming a Fierce 15 member in 2013.
And Intersect just released clinical trial data demonstrating the safety of its clinical-stage Resolve implant. Like the Propel, Resolve releases mometasone furoate directly into the sinus lining to reduce inflammation; Intersect says the next-generation device has greater radial strength and releases the steroid over a longer period of time than the Propel.
In September the company announced that the first patient enrolled in its Progress clinical trial to expand the indication of Propel to include patients with frontal sinusitis. Propel is currently approved for ethmoid sinuses, located just behind the bridge of the nose.
In Q2 2014, Intersect increased revenue 118% year over year to $8.6 million. Intersect lost $4.4 million in the quarter, but funding from Wall Street investors gives the company some time to achieve profitability.
Prior to joining Intersect in 2008, Earnhardt was the president of Boston Scientific's ($BSX) cardiac surgery division. Like many of the women on our list, she has a Stanford connection, having graduated from the university in 1991.
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-- Varun Saxena (email | Twitter)