Anulex Technologies, Inc. Raises $20 Million in Series C Financing.MINNEAPOLIS -- Anulex Technologies, Inc., a private company developing proprietary soft tissue repair products for the spine announced today the close of its third round of private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , totaling approximately $20 million. New investors leading the round include MB Venture Partners (Memphis, TN) and Affinity Capital (Minneapolis, MN). Also participating in the financing are existing investors Split Rock Partners, New Enterprise Associates, Delphi Ventures and SightLine sight·line also sight line n. A line of sight, especially one between a spectator and the spectacle in a theater or stadium. Partners. Commenting on the financing, Michael K. McCormick, Anulex's President and Chief Executive Officer, said, "This financing will give us the ability to build a solid infrastructure for full commercialization of our first product, the Inclose in·close v. Variant of enclose. Verb 1. inclose - surround completely; "Darkness enclosed him"; "They closed in the porch with a fence" shut in, close in, enclose (TM) Surgical Mesh, as well as lay the foundation for future therapies to treat debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction diseases of the spine." As part of the financing, Gary D. Stevenson, Managing Partner of MB Venture Partners, will join Anulex's board of directors and Kristine Johnson Kristine Johnson (born May 31, 1962 at the former Clark Air Base in Angeles City, Pampanga, Philippines to a Filipino mother and an American father ) is a co-anchor at WCBS-TV in New York on the 5 and 11 p.m. newscasts with Chris Wragge. , Managing Partner of Affinity Capital, will serve as a board observer. Matthew M. Burns, Anulex's Chairman of the Board and Chief Technology Officer stated, "Both Gary and Kris have had significant experience investing in and building companies in the healthcare industry and we are excited to add their operational, financial and strategic abilities to our board of directors." "Anulex is developing and commercializing compelling technologies to address unmet un·met adj. Not satisfied or fulfilled: unmet demands. clinical needs in the spine," said Gary Stevenson. "MB Ventures is excited to partner with Anulex, and we look forward to working with Anulex in the realization of its full potential." About Anulex Anulex Technologies, Inc. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. dedicated to the development and commercialization of unique and proprietary soft tissue repair products with primary interests in treatments for the soft tissues of the spine. Back pain afflicts four out of every five individuals at some point during their life, and it is a major cause of disability. Founded in 2001, Anulex has dedicated itself to the development of devices to improve spine surgical outcomes. To date, Anulex has raised approximately $38 million through three rounds of financing to support these efforts. Inclose and Anulex are trademarks of Anulex Technologies, Inc. |
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