MINNETONKA, Minnesota — Anulex Technologies, which treats soft spinal tissue and helps speed recovery after herniated disc removal, raised $10.2 million to complete post-market clinical trials, bolster sales efforts in the United States and speed research and development.
The post market trials focus on the Xclose, a device that uses small braided polyester bands to make an X-shaped stitch over openings in the soft tissue around the spine. The company says the device will keep a disc from reherniating while speeding the recovery process.
The U.S. Food and Drug Administration has cleared the device for use in general and orthopedic surgeries.
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Anulex has raised about $48.4 million — including this latest Series D round — since 2003, as well as a $7 million loan from Silicon Valley Bank in 2008. Affinity Capital, Delphi Ventures, MB Venture Partners, New Enterprise Associates, SightLine Partners and Split Rock Partners were part of the most recent round.