Abyrx, Inc., an Irvington, N.Y.-based specialty biosurgical products company, completed a $10M equity financing.
Backers included members of its executive team, Canaan Partners, MedEdge, and BB Biotech Ventures.
The company intends to use the new funds to manage the demand for its bone putty products and to accelerate its pipeline development activities.
Founded in 2013 and led by John J. Pacifico, President and Chief Executive Officer, Abyrx develops, manufactures, and provides specialty biosurgical products for use during surgical procedures.
In addition to the funding, the company expanded its exclusive, worldwide license agreement with Bezwada Biomedical to include the development, manufacture, and commercialization of Bezwada’s proprietary adhesive technology for soft tissue applications.
Previously, in 2011, Abyrx and Bezwada announced a similar partnership for hard tissue (bone) applications. With this new partnership, Abyrx gains exclusive access to proprietary materials and manufacturing that it will use to develop products for surgical site hemostasis, sealing, and fixation.