Intrinsic draws up $11.6M funding round (MassHighTech)
Spinal implant maker Intrinsic Therapeutics Inc. has landed another round of equity, options and warrants financing, according to documents filed with the U.S. Securities and Exchange Commission.
The Woburn company behind the Barracaid spinal implant used as treatment for herniated lumbar discs received $11.6 million of a $20 million offering. A total of 11 investors participated in the offering as of October 26.
Along with newly appointed CEO Cary Hagan, listed on the filing as directors are Ryan Drant and Josh Makower of New Enterprise Associates; William Tidmore, former chairman and president of Depuy Acromed; Jeani Delagardelle, managing director of New Leaf Venture Partners; Kevin Connors of Spray Ventures; Kevin Sidow, CEO of Moximed, a start-up orthopedic company in California; and Gregory Lambrecht former president and CEO of Intrinsic.
Founded in 2000 as Intrinsic Orthopedics, the company landed $18 million of a $20 offering in February 2010 and before that it raised $25 million.
Calls made to Intrinsic requesting comment were not returned before deadline Friday.