Alafair Biosciences Inc., an Austin, Texas-based medical device company, completed a $2.0m Series A round of financing.
The round was led by ATP Fund with participation from existing and new investors including the UT Horizon Fund. In conjunction with the funding, ATP Fund managing partner and representative Kyle Cox joined Alafair’s Board of Directors.
The company, which has raised $5.9m in total funding, intends to use the capital to expand sales and marketing efforts as well as broaden and accelerate pipeline product development.
Led by Daniel Peterson, MD, Chairman and CEO, Alafair has developed patented surgical products for a broad spectrum of soft tissue repair and protection applications. The company recently announced the FDA clearance of its first product, VersaWrap™ Tendon Protector (VersaWrap™ TP), indicated for the management and protection of tendon injuries in which there has been no substantial loss of tendon tissue.
It will be launching VersaWrap directly and through partnerships with major medical device companies.