Medical device firms TYRX Inc. and Ortho Kinematics Inc. announced venture-backed financing rounds.
Monmouth Junction, N.J.-based TYRX raised $20 million in financing led by a new investor, HLM Venture Partners; HLM managing partner Edward Cahill will join TYRX’s board.
Previous backers Clarus Ventures and Pappas Ventures also joined the round, according to a press release. The round also included $4 million in debt financing from Comerica Bank, the company said.
TYRX has picked up $23.1 million from nine unnamed investors in a $25.2 million equity-based financing round that opened Nov. 23, according to the company’s latest filing with the federal Securities & Exchange Commission.
TYRX develops implantable medical devices designed to help reduce surgical-site infections associated with implantable pacemakers and defibrillators. The company won 510(k) clearance from the Food & Drug Administration this year to begin marketing its AIGISRx ST antibacterial envelope designed for the surgical repair of damaged or ruptured soft tissue. The product has been implanted in more than 13,000 patients, according to the company.
Ortho Kinematics also added to its coffers, drumming up $2 million in new funding, the company said.
The Austin, Texas-based spine diagnostics firm said TEXO Ventures led the round, which also included investments from original investors PTV Sciences and Gatebridge Investments. The financing will support the commercialization of its new medical device indicated for spine motion analysis.
Ortho Kinematics is in the process of raising $5.1 million via equity-based financing. The company opened the round with its first sale of equity Nov. 24, which raised about $1 million from two unnamed investors, according to an SEC filing.