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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Pegasus Biologics closes $20 mil. private placement: The DurAdapt bioimplant for dura mater repair after craniotomies is among Pegasus Biologics' R&D projects to be bolstered by a $20 million private placement, announced May 10. The firm also is developing a graft for anterior cruciate ligament reconstruction. Current offerings include the 510(k)-cleared OrthAdapt bioimplant for reinforcing compromised soft tissues in sports medicine, orthopedic and spine applications. The device is a "biocompatible, stabilized, sterilized collagen scaffold that fortifies and promotes tissue ingrowth," the Irvine, Calif., firm explains. Pegasus also offers the Unite biomatrix wound dressing. The new funds, which bring the company's total private equity investment to nearly $32 milion, will help Pegasus expand its market reach while bolstering its development pipeline, the firm says. The "Series C" financing round was led by Onset Ventures...
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