US-based medical device company Augmenix has closed a $10.8m series D round backed by investors including Ascension Health Ventures (AHV), the corporate venturing unit non-profit hospital operator Ascension Health.
Investment fund Excelestar Ventures, venture capital firm Catalyst Health Ventures and Sparta Group also participated.
Augmenix develops radiation oncology products. The new funds will support its lead product candidate, the SpaceOARSystem absorbable hydrogel, as it seeks regulatory approval in the US and proceeds to a market launch expected to take place in 2015.
The company raised $6.1m in a series B round in 2009 from AHV, Versant Ventures, Pinnacle Ventures, Catalyst Health Ventures and private investors.
Augmenix also disclosed that an option that Varian Medical Systems had gained to acquire the company during a 2011 financing, in which Varian purchased a minority stake for $15m, has now expired.