Business

IlluminOss Medical secures $28m in financing

IlluminOss Medical Inc., an East Providence, R.I., company that has developed a bone stabilization system for treating fractures, said Thursday it has secured a $28 million round of venture capital financing.

Tekla Capital Management, an investment adviser to H&Q Life Sciences Investors and H&Q Healthcare Investors, based in Boston, and Life Sciences Partners, a global health care and life science investment firm with offices in Amsterdam, Munich, and Boston, led the round, IlluminOss said.

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The round had the full participation of existing investors Foundation Medical Partners, Mieza Capital, and New Leaf Venture Partners. Four additional investors also joined this latest round, including SR One, Excel Venture Management, Pappas Ventures, and the Slater Technology Fund.

According to IlluminOss, its minimally invasive Photodynamic Bone Stabilization System is used to treat fractures through a small entry into the bone.

Chris Reidy

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