Insightra Medical, an Irvine, Calif.-based medical device technology company with products serving the hernia repair market, closed a Series C financing round of undisclosed amount.
The round was co-led by Baird Capital‘s venture capital group and Tekla Capital Management. As part of this financing, Michael Liang, Ph.D., Partner with Baird Capital’s venture capital group, and Frank Gentile, Ph.D. from Tekla will join Insightra’s Board of Directors.
The company intends to use the capital for product development, domestic sales force growth and international expansion.
Founded by CEO Brad Sharp, Insightra provides the Freedom Inguinal Hernia System™, which contains a flower shaped implant and an open structure made of polypropylene that recoils when compressed. Using a special delivery device, the implant is loaded under compression and then released into the inguinal hernia defect where it stabilizes in the tissues without the need for fixation.