Uterine treatment device developer Interlace Medical sees $20.5m in Series C funding

Baird Venture Partners and HLM Venture Partners led the round alongside Hambrecht & Quist Capital Management and Aperture Venture Partners.   Existing investors New Leaf Venture Partners and Spray Venture Partners also participated in the round.

Fibroids are a common cause of abnormal uterine bleeding, which afflicts over ten million women in the US.  The MyoSure system removes uterine fibroids and polyps, while affording physicians the flexibility to conduct procedures in either an operating room or office setting, the company said.

“We are very excited to team up with this top-tier group of investors to enable the launch of our initial product,” said Bill Gruber, president of Interlace. “There is a strong need for less invasive solutions that provide safe, reliable, and quick methods for fibroid and polyp removal.  The MyoSure procedure offers women a terrific alternative to conventional surgical treatments.”

“The women’s health sector has long been an underserved market in dire need of better medical solutions as an alternative to traditional surgeries and drug therapies,” said Michael Liang, principal at Baird Venture Partners. “Interlace has focused on a particular sector where existing treatment options are sub-optimal, and we believe Interlace has developed a unique and proprietary system that will be well received by gynecological surgeons.”

As part of the transaction, Liang and Albert Wiegman, HLM Venture Partners, will join Interlace’s board of directors.

Baird Venture Partners invests in early and expansion stage business services and life sciences companies.

HLM Venture Partners provides venture capital to emerging companies focused on healthcare IT, healthcare services and medical technology.

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