HyperBranch Medical Technology has closed on $2 million in new financing.
The venture-backed company disclosed the funding in a filing with the Securities and Exchange Commission.
HyperBranch said seven investors participated in the funding. The company said it raised $2,072,008, the entire amount it sought. The investors were not identified.
The Aurora Funds in Durham is one of HyperBranch’s investors. HIG Ventures also is an investor.
A year ago, HyperBranch raised $1.17 million. Earlier that year, HyperBranch licensed some of its technology to BD. HyperBranch has been selling the bandage since December 2007. The project is designed to decrease surgery time, reduce sutures and cut down complications associated with various eye surgeries.
The company is focused on what it calls hydrogel technology. It is seeking approval for products to be used in brain and spinal surgery as well as a mesh for use in hernia repair.
HyperBranch recently received a CE Mark for its Adherus Spinal Sealant, providing regulatory approval for the company to begin sales in Europe and other countries outside the U.S.
HyperBranch Medical Technology, Inc. has now received CE Marks for ocular, cranial, and spinal sealants as well as a hernia mesh fixation product. The spinal product will follow the same approval path in the U.S.
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