Tepha Inc. stitched up nearly $3 million in new funding from a group of un-named investors, according to a filing with the federal Securities and Exchange Commission.
The Lexington, Mass.-based company, a 1998 spinout from Cambridge, Mass.-based Metabolix (NSDQ:MBLX), is developing absorbable polymers for surgical sutures, mesh, implants and cardiovascular devices.
Tepha, which has already closed Series A and B rounds, raised $2.97 million of its targeted $7.41 million in the equity sale, according to the filing. Previous investors include the Vertical Group, Novartis Venture Fund, Integra Ventures and Westfield Life Sciences Fund.