Apieron Inc. plans to score $25 million in its currently open fourth-round of funding to advance development and build up sales of an asthma monitoring device.
This round is the first of Holly McGarraugh's brand new tenure as president and chief executive officer. She joined the Menlo Park, Calif.-based company in January as vice president for marketing. While the company is still busy hammering out term sheets with venture capital firms, McGarraugh says the round should close by the end of the year.
Apieron has had good luck in previous investment rounds, raising $37.6 million since 2003 from firms including Onset Ventures, Alliance Technology Ventures, Canaan Partners and Draper Fisher Jurvetson. The money brought in during its third round, amounting to $17 million, helped the company push its product through the Food and Drug Administration approval process in May.