Anulex Technologies, Inc., a private company developing proprietary soft tissue repair products for the spine announced today the close of its third round of private equity financing, totaling approximately $20 million. New investors leading the round include MB Venture Partners (Memphis, TN) and Affinity Capital (Minneapolis, MN). Also participating in the financing are existing investors Split Rock Partners, New Enterprise Associates, Delphi Ventures and SightLine Partners.
Commenting on the financing, Michael K. McCormick, Anulex's President and Chief Executive Officer, said, "This financing will give us the ability to build a solid infrastructure for full commercialization of our first product, the Inclose(TM) Surgical Mesh, as well as lay the foundation for future therapies to treat debilitating diseases of the spine."
As part of the financing, Gary D. Stevenson, Managing Partner of MB Venture Partners, will join Anulex's board of directors and Kristine Johnson, Managing Partner of Affinity Capital, will serve as a board observer. Matthew M. Burns, Anulex's Chairman of the Board and Chief Technology Officer stated, "Both Gary and Kris have had significant experience investing in and building companies in the healthcare industry and we are excited to add their operational, financial and strategic abilities to our board of directors."
"Anulex is developing and commercializing compelling technologies to address unmet clinical needs in the spine," said Gary Stevenson. "MB Ventures is excited to partner with Anulex, and we look forward to working with Anulex in the realization of its full potential."
Anulex Technologies, Inc. is a privately held company dedicated to the development and commercialization of unique and proprietary soft tissue repair products with primary interests in treatments for the soft tissues of the spine. Back pain afflicts four out of every five individuals at some point during their life, and it is a major cause of disability. Founded in 2001, Anulex has dedicated itself to the development of devices to improve spine surgical outcomes. To date, Anulex has raised approximately $38 million through three rounds of financing to support these efforts.
Inclose and Anulex are trademarks of Anulex Technologies, Inc.