Cytrellis Biosystems Closes $50M Series C Financing

Cytrellis Biosystems, a Woburn, Mass.-based medical technology company dedicated to the development and commercialization of aesthetic devices which emphasize safety, efficacy, and improved quality of life for patients, closed a $50m Series C funding round.

The round was led by D1 Capital Partners with participation from an additional new investor, Sands Capital, as well as existing institutional investors ARCH Venture Partners and PFM Health Sciences.

The company intends to use the funds to develop its commercial infrastructure as well as support additional clinical research, product development, and manufacturing.

Led by Karen Cronholm, President and CEO, Cytrellis Biosystems has developed a novel class of aesthetic devices designed to remove sagging skin associated with aging without surgery or scarring, enabling aesthetic practitioners the ability to improve age related changes in skin and restore youthful beauty. The ellacor™ System with Micro-Coring™ Technology is indicated for use by medical professionals for the treatment of moderate to severe wrinkles in the mid to lower face in adults aged 22 years or older with Fitzpatrick skin types I-IV. Ellacor’s recent FDA clearance* provides a pathway to an initial commercial rollout, which Cytrellis intends to execute with a small group of key physicians. The company anticipates a full national rollout in 2022.