Clarus funds pump-enabled drug delivery firm

By Mass High Tech staff

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Life sciences investment firm Clarus Ventures has led a $25 million funding round of InSet Technologies Inc., a New Jersey maker of implantable pumps used for drug delivery. The Cambridge VC firm was joined in the financing by return backer FatBoy Capital LP.

The funding deal calls for Clarus Ventures managing director Kurt C. Wheeler to join the board of directors at InSet Technologies.

InSet’s implantable pumps deliver medication to a person’s spinal cord to ease chronic pain, cancer pain and spasticity, a central nervous system disorder.

Clarus Ventures manages more than $1.2 billion, relying on two life sciences-related funds. The firm has offices in both Cambridge and San Francisco.

In October, Clarus led a $60 million Series D financing of Biolex Therapeutics Inc., a North Carolina biopharmaceutical company that makes Locteron, a controlled-release interferon alfa designed to treat hepatitis C.

Clarus also made investments in September in neurology-focused biotech company Link Medicine Corp., which raised $40 million in a Series C financing round.

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