Series D brings in $30mm for Intersect ENT

Ear, nose, and throat device developer Intersect ENT Inc. has raised $30mm through its Series D venture round. New backer Norwest Venture Partners led and was joined by all of the company’s current shareholders, including Kleiner Perkins Caufield & Byers, US Venture Partners, PTV Sciences, and Medtronic Inc., and three other undisclosed investors. Intersect will use the money to continue commercial expansion of its Propel and Propel mini sinus implants--used in operating rooms to reduce inflammation in the sinus lining--and to fund clinical studies of an office-based steroid delivery implant for chronic sinusitis.