Capnia, a CO2-through-nose treatment company, raises $16.3M

April 24, 2008 | Matt Marshall

Capnia, a Palo Alto, Calif., company that delivers carbon dioxide through a patient’s nose to treat things like migraines and rhinitis, has raised $16.3 million of a potential $19 million third round of funding.

Backers include existing investors Vivo Ventures, Asset Management and Teknoinvest, as well as individuals including chief executive Ernest Mario, according to VentureWire, which first reported the news.

The company said the money will help the company finish the second phase of trials for its product.

The company had previously raised more than $20 million.

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Tags: deal

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.