HyperBranch Medical Technology, an emerging firm focused on ocular surgery devices, has raised $6 million in venture capital.
The Aurora Funds of Durham led the round. Also participating was HIG Ventures, which is based in Miami.
HyperBranch is focused on two products, an injectable synthetic lens for use in cataract surgery and what it calls a “glue” that can used as a wound sealant in ophthalmic surgery.
“HyperBranch is a company with a clear technical advantage,” said Chris Kroeger of The Aurora Funds in a statement. “But more importantly, HyperBranch has a management team that has already successfully developed and launched polymer-based medical devices.”
The company was launched in 2003.
Anthony Sherbondy, chief executive officer of HyperBranch and one of its founders, is a former executive at Closure Medical. He and other top officials in the firm have 20 or more years experience in the medical business or education. Mark Grinstaff , the other co-founder and chief science officer, is also an associate professor of biomedical engineering and chemistry at Boston University. He is a former professor at Duke.
“This funding effort speaks to the strength of the company and our product pipeline,” Sherbondy said in a statement. “The characteristics of our polymers confer unique properties that are absolutely critical to the success of an accommodating lens. We can create a lens with the optical and mechanical properties of that of a 20-year-old.”
The company said it would use the funds to drive preclinical and clinical development of its top two products.