TYRX Raises $20m in Venture Capital Funding

TYRX, Inc., a Monmouth Junction, NJ-based company that develops and commercializes implantable medical devices designed to help reduce surgical-site infections associated with pacemakers and defibrillators, has raised $20m in venture capital funding.

The round was led by new investor HLM Venture Partners with participation from existing investors Clarus Ventures and Pappas Ventures. It also included $4m in debt financing from Comerica Bank.

In conjunction with the financing, Edward L. Cahill, Managing Partner, HLM Venture Partners, will join TYRX’s Board of Directors.

The company commercializes implantable combination drug and device products focused on infection control, including the AIGISRx® Antibacterial Envelope and AIGISRx® Flat Sheet products.

They contain antimicrobial agents, rifampin and minocycline, which have been shown to reduce infection by organisms representing a majority of the infections reported in implantable pacemaker and defibrillator related endocarditis.

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