Sientra
Sientra markets and distributes silicone breast implants and other aesthetic implants into the $600m US market.
The company broke the breast implant market duopoly in March of 2012 when it received approval from the FDA for its silicone implant. Silicone implants were being sold by Mentor (J&J) and Inamed (Allergan) after the FDA re-introduced them into the US market in 2006. Sientra was founded in 2006 when highly respected aesthetics industry veteran, Hani Zeini, went in search of ‘the next big thing’ in aesthetics. Hani bought the Sientra products from a team that had already begun a clinical trial and Sientra submitted a PMA in 2008.
Post-approval investment
We were extremely impressed with the management team but mitigated FDA risk by investing upon approval in 2012, leading the $65m series C financing and taking a board seat. Since then the company has hired a full sales team, developed a business with sales revenue tracking over $50m, and has began working toward profitability. In October 2014 Sientra went public on Nasdaq raising $80m.