June 16, 2009
VC Firms, Baird Venture Partners and HLM Venture Partners Lead $20.5 Million in Seriec C Funding for Interlace Medical, Inc.
Based in Framingham, Massachusetts, Interlace Medical, a company that produces interventional devices for gynecologists has landed series C funding, which was led by Baird Venture Partners and HLM Venture Partners. Other investors who participated in the funding include existing investors Leaf Venture Partners and Spray Venture Partners.
Interlace Medical, Inc. was founded in 2006 as a company that develops interventional devices for gynecologists to do procedures that would otherwise require surgery in patients. Furthermore until recent times, the lack of technology has made it impossible to treat gynecological disorders without inpatient surgery.
Proceeds from the funding will go to help fund Interlaceâ€™s development and commercialization of its new product, the MyoSure device, which is a device that is involved in intra-uterine procedures that remove polyps and fibroids. MyoSure is a device that will greatly improve the treatment of uterine fibroids and polyps because it minimizes the invasiveness of the procedure to remove them.
Baird Venture Capital is the vc arm of Baird Private Equity and mainly focuses its investments on early stage companies. The vc arm mainly focuses its investments on the healthcare and life sciences industry.
HLM Venture Partners is a vc firm that has a proven track record for successful investments in the healthcare industry. HLM Venture Partners has offices in both San Francisco and Boston, and besides the necessary funding that entrepreneurs need, they also get access to HLMâ€™s valuable resources and the expertise from HLMâ€™s general partners. Some companies in HLMâ€™s portfolio include Apero Technologies, Daou Systems, Aperture, The TriZetto Group, and others.
For more information about Interlace Medical, Inc., click here.