Tivic Health Systems, which is commercializing a bioelectronic device for sinus and nasal inflammation, filed on Tuesday with the SEC to raise up to $16 million.
Tivic is a commercial-phase bioelectronic medicine company focused on inflammation. Its first product, ClearUP Sinus Relief, is a patented handheld device that uses ultra-low current electrical waves to relieve symptoms of sinus and nasal inflammation. ClearUP is a US FDA Class II and EU Class IIa medical device that has received three regulatory clearances. The company is currently preparing a second-generation version of ClearUP (ClearUP Gen 2), which is covered by the same patents.
The Newark, CA-based company was founded in 2016 and booked $1 million in sales for the 12 months ended March 31, 2021. It plans to list under the symbol TIVC but has not selected a listing exchange yet. Tivic Health Systems filed confidentially on May 14, 2021. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
