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Archus Orthopedics (develops devices to treat degenerative diseases of the lumbar spine) raised $21mm in its two-part Series B financing co-led by InterWest Partners and Polaris Venture Partners, with participation from returning investor MPM Capital. The company brought in the initial $6mm in July 2003 and the remaining $15mm was based on a regulatory milestone. (Archus originally planned to raise $18mm.)
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