IlluminOss Medical secures $28m Series C financing

IlluminOss Medical Inc., an East Providence company that has developed a bone stabilization system for treating fractures, said Thursday that it has secured a $28 million Series C round of venture capital financing.

Tekla Capital Management, an investment advisor to H&Q Life Sciences Investors and H&Q Healthcare Investors, based in Boston, and Life Sciences Partners, a global health care and life science investment firm with offices in Amsterdam, Munich, and Boston, co-led the round, IlluminOss Medical said in a press release.

The round had the full participation of existing investors Foundation Medical Partners, Mieza Capital and New Leaf Venture Partners. Four additional new investors also joined this latest round, including SR One, Excel Venture Management, Pappas Ventures, and the Slater Technology Fund.

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According to IlluminOss Medical, its minimally invasive IlluminOss Photodynamic Bone Stabilization System is used to treat fractures through a small entry into the bone.

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