Miramar Labs, a medical device manufacturer and maker of the miraDry System, announced that it has raised $10 million in Series D funding from Aisling Capital, Cross Creek Capital, Domain Associates, Morgenthaler Ventures and RusnanoMedInvest. The new investment will be used to expand sales activities around the world, support commercialization efforts and support R&D efforts on products for new indications.
"We have been very pleased with our growth in 2013 as awareness of the miraDry procedure increased significantly here in the U.S. and internationally," said R. Michael Kleine, president and CEO of Miramar Labs. "Not only will this new round of funding enable us to expand our commercialization and global sales efforts, providing the only non-invasive and lasting treatment option for unwanted underarm sweat, but it will also allow us to accelerate the development and introduction of important new technology platforms in the near future."
The miraDry System delivers energy non-invasively to the area under the arm where the sweat glands reside, creating localized heat to destroy and eliminate the glands.