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Print Edition StoriesTuesday, June 16, 2009
Startup Interlace Medical lands $20.5M funding
By Mass High Tech staff
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Framingham-based medical device startup Interlace Medical Inc. has announced raising $20.5 million in Series C funding from investment leaders Baird Venture Partners and HLM Venture Partners, as well as Hambrecht & Quist Capital Management LLC and Aperture Venture Partners and returning backers New Leaf Venture Partners and Spray Venture Partners.
Interlace officials said they plan to apply the financing to commercializing Myosure, its treatment for removing intrauterine fibroids and polyps. Myosure is a minimally invasive system intended to curb cases of abnormal uterine bleeding, often caused by fibroids, in women.
Under terms of the investment deal, Michael Liang, principal at Baird Venture Partners, and Albert Wiegman of HLM Venture Partners, will join Interlace’s board of directors.
Interlace Medical was founded in 2006. Baird Venture Partners has its headquarters in Chicago, and HLM Venture Partners is based in Boston.
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