Anulex develops and commercializes soft tissue repair systems, including the Xclose™ Tissue Repair System and the Rimclose™ product under feasibility study. The company is advancing post‑market clinical follow‑up for Xclose to generate additional evidence of annulus preservation and repair. Proceeds from the recent financing are intended to expand commercialization efforts and support ongoing research and development. Anulex also plans a feasibility study for Rimclose and further investment in its R&D strategy. The company has secured external investor support to fund these near‑term clinical and commercial initiatives. Anulex Technologies builds devices to repair the annulus tissue around spinal discs, most notably its Xclose tissue-repair device. Last month the company began marketing a next-generation version of Xclose, which uses small braided polyester bands to form an X-shaped stitch over openings in the soft tissue to help prevent re-herniation and speed recovery. The first-generation Xclose was cleared for U.S. use in 2006 and the device has been used in more than 7,300 procedures. Anulex is also developing InClose, a mesh implant intended to provide a scaffold to aid tissue regrowth after surgery. The company has raised about $52 million in total funding since 2003. Recent financing activity and continued product development suggest the company is focused on commercial rollout of its next-generation device and follow-on implant options. Anulex Technologies develops the Xclose, a device that uses small braided polyester bands to form an X-shaped stitch over openings in the soft tissue around the spine. The company says the Xclose will help prevent disc reherniation and speed patient recovery after herniated disc removal. The U.S. Food and Drug Administration has cleared the device for use in general and orthopedic surgeries. Proceeds from the raise will fund completion of post-market clinical trials, bolster U.S. sales efforts, and accelerate research and development. The company is headquartered in Minnetonka, Minnesota, and has raised about $48.4 million since 2003, including the latest round. Anulex previously took a $7 million loan from Silicon Valley Bank in 2008.

Total raised

$14M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Mar 2010