Tepha Closes $10.7 Million in Venture Funding

Tepha, a Cambridge, MA, company whose biopolymer technology is used to create new biomaterials that can be applied to a variety of devices, has closed $10.7 million in venture funding. The financing was led by The Vertical Group, of Summit, NJ; Integra Ventures, Novartis Venture Fund and Westfield Life Sciences Fund also participated.

The money will go toward further development of the TephaFLEX biopolymer technology, which is used by Tepha in its own devices as well by other medical device firms. Tepha uses it for its TephaFLEX Absorbable Suture, which received 510(k) clearance in February, and for its TephaFLEX Surgical Mesh — indicated for hernia, pelvic floor, and other soft tissue temporary wound support — also cleared by FDA this year, in April.

Other companies are using the biopolymer technology for a variety of products, including surgical meshes, anti-adhesion films, hemostats, intra-cardiac devices, absorbable stents, ligament and tendon repair devices, embolization agents and drug delivery systems. Tepha is currently partnered with the following companies for use of the TephaFLEX technology: Aesculap AG, HemCon Medical Technologies, LifeCell Corporation, NMT Medical and Tornier.

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