Cytrellis Biosystems, Inc., a Woburn, Mass.-based medical technology company developing a new, proprietary class of dermatologic aesthetic devices for the reduction of skin laxity, received $28.5m in Series B funding.
Backers included existing investors ARCH Venture Partners, the Merz Venture Initiative and new investors Partner Fund Management and BioMatics Capital. In conjunction with the funding, Michael Peterson, CTO of Merz’s Device Innovation Center representing Merz’s venture initiative, will be joining the Board of Directors.
The company intends to use the funds to conclude clinical studies and fund its efforts to obtain regulatory clearances.
Led by Karen Cronholm, President and CEO, Cytrellis Biosystems is a medical technology company developing a new, proprietary class of aesthetic devices designed to remove sagging skin associated with aging without surgery or scarring.