deals, VC, Medicine

Interlace Sews Up $20.5M Series C Round

Roxanne Palmer 6/15/09

Framingham, MA-based Interlace Medical, which develops medical devices for gynecologists, announced today it has raised $20.5 million in Series C funding. The round was led by Baird Venture Partners and HLM Venture Partners and included new investors Hambrecht & Quist Capital Management and Aperture Venture Partners. Previous backers New Leaf Venture Partners and Spray Venture Partners returned for this round as well. Interlace says the Series C funds will be used to initiate the commercialization of its MyoSure system, which is intended as a less invasive method of removing fibroids and polyps from the uterus.

Roxanne is an intern in Xconomy's Boston office. You can reach her at rpalmer@xconomy.com.