SUNEVA MEDICAL RAISES 35 MILLION DOLLARS IN FUNDING

SUNEVA MEDICAL RAISES $35 MILLION IN FUNDING

Polaris Partners and HealthCare Royalty Partners Lead the Capital Raise in Support of Company’s Growth Initiatives

SAN DIEGO, Calif. (Jan. 9, 2014)—Suneva Medical, Inc., a privately-held aesthetics company, announced that it has recently raised $35 million in debt and equity capital. The new capital was structured to be comprised of a growth-capital term loan, a working capital facility, and a Series B equity round financing of $20 million.

Polaris Partners led the Series B round, with an affiliate of HealthCare Royalty Partners (“HC Royalty”) providing the growth-capital term loan and also participating in the Series B round. Other existing investors participated in the Series B round, and the working capital facility was provided by Comerica Bank.

The Series B financing includes up-front and product-related milestone investments, and Brian Chee, Managing Partner at Polaris Partners, has joined the Suneva Medical Board of Directors.

“The proven track record of Suneva’s management team, coupled with its product distribution partnerships and product portfolio, create a compelling future for the company,” said Todd Davis, Founding Managing Director at HC Royalty and Suneva Board Member. “We are pleased to welcome Brian Chee as a director of the company, and look forward to working with him in assisting the company in pursuit of its vision to be a standout innovator in the aesthetics market.”

Nicholas L. Teti, Jr., Chairman and Chief Executive Officer of Suneva Medical, added: “In a short time, we have put Suneva on the path toward success by growing the core business, investing in innovative product research, and working strategically with the right partners. This funding is a vote of confidence in the Suneva team and strategy, giving us the financial platform upon which to execute our vision to build a profitable and dynamic aesthetics company.”

For more information on Suneva Medical, visit www.sunevamedical.com/old.

Media interested in speaking with a Suneva Medical representative should contact Melody Demel at 619-234-0345 or suneva@formulapr.com.

About HealthCare Royalty Partners

HealthCare Royalty Partners is a global healthcare investment firm that provides financing solutions to healthcare companies and royalty owners with interests in approved pharmaceutical and medical device products. The firm’s senior investment team has participated in nearly 50 royalty financings valued at over $2 billion over the past decade. For more information, visit www.healthcareroyalty.com.

About Polaris Partners
Polaris Partners is a $3.5B diversified investment firm, focused in Healthcare and Technology. The firm partners with entrepreneurs to bring disruptive ideas to life. Polaris makes investments across all company lifecycle stages and has offices in Boston, San Francisco, and Dublin, Ireland. For more information, visit www.polarispartners.com

About Comerica Bank
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. To find Comerica on Facebook, please visit www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ. About Suneva Medical, Inc.

 

Suneva Medical, Inc. is a privately-held aesthetics company focused on developing, manufacturing and commercializing novel, differentiated products for the general dermatology and aesthetic markets. The company currently markets ArteFill® in the US, Korea, and Singapore; ReFissa® and Regenica® Skincare in the U.S. and Bellafill® in Canada. For more information, visit www.sunevamedical.com/old.

 

Important Safety Information

Bellafill®
Bellafill® is indicated for the correction of nasolabial folds and moderate to severe, atrophic, distensible facial acne scars on the cheek in patients over the age of 21 years. Patients who have had a positive reaction to the Bellafill® Skin Test, have a history of severe allergies, have known bovine collagen allergies, are allergic to lidocaine, have bleeding disorders or are prone to thick scar formation and/or excessive scarring should not receive Bellafill®. The safety of Bellafill® for use during pregnancy, breastfeeding, or in patients under 21 has not been established. You may experience temporary swelling, redness, pain, bruising, lumps/bumps, itching, and discoloration at the treatment site. These side effects are usually transient and typically resolve within 1–7 days. You may experience lumps/bumps/papules that may occur more than one month after injection and that may persist. Less common side effects include rash and itching more than 48 hours after treatment, persistent swelling or redness, lumps/bumps, acne, and increased sensitivity at treatment sites. Infrequently, granulomas may occur and may be treated by your licensed physician provider. Be sure to call your licensed provider immediately if you notice any unusual skin reactions around the treatment area. Based on the 5-year Post-Approval Study on nasolabial folds with 1,008 patients, long-term safety of Bellafill® for up to 5 years has been established.

PUREGRAFT
This product is certified as a medical device in the European Union under the Medical Device Directive 93/42/EEC by SGS CE0120, exclusively for the indication of autologous fat transfer. Other non-medical uses ascribed to this device such as aesthetic body contouring are not within the scope of CE certification, and users should be aware product performance and/or safety has not been evaluated by SGS for those purposes.

Suneva Medical HD PRP
REGULATORY STATUS: FDA-cleared 510(k) Class II medical device. Healeon HD PRP is designed to be used for the safe and rapid preparation of autologous platelet-rich-plasma (PRP) from a small sample of peripheral blood at the patient point of care. The PRP is mixed with autograft and/orallograft bone prior to application to a bony defect for improving handling characteristics. 510(k) number: BK170136

Silhouette Instalift
Silhouette lnstaLift® is indicated for use in mid-face suspension surgery to temporarily fixate the cheek sub-dermis in an elevated position.

IMPORTANT SAFETY CONSIDERATIONS
The Silhouette InstaLift device should not be used in patients with any known allergy or foreign body sensitivities to plastic/ biomaterial or in situations where internal fixation is otherwise contraindicated, (e.g. infection.) The device should also not be used in patients appearing to have very thin soft tissue of the face in which the implant may be visible or palpable.

Like all procedures of this type there is a possibility of adverse events, although not everybody experiences them. These adverse events include but are not limited to infection, minimal acute inflammatory tissue reaction, pain (which may be temporary or persistent in nature), swelling and edema, transient hematoma or bruising and transient rippling or dimple formation. For further safety or product information, please consult your physician.

For more safety information, please consult with your physician and the patient labeling that can be found by visiting our website www.bellafill.com.
Toll-free call (U.S. & Canada): 844-Bellafill (844-235-5234).
Local calls: 858-550-9999. International calls: ++ 858-550-9999.