Maryland’s health tech startup ecosystem is at it again.
Silver Spring-based Aziyo Biologics Inc. has raised $10 million from seven investors in a funding round disclosed Tuesday in SEC filings.
Founded in 2015, Aziyo is a private, commercially-oriented biotech company focused on regenerative medicine in cardiology, orthopedics and wound care. It previously raised $12 million in June last year, in a round led by parent company HighCape Partners. HighCape Partners, Deerfield Management and MidCap Financial participated in the most recent round.
The firm’s products are used mostly as implants for surgical procedures. They include the CanGaroo Envelope, a bio-scaffold intended to securely hold implanted pacemakers and defibrillators, and the ViBone, a bone graft designed to protect tissue with little disruption to the surrounding body.
Aziyo plans to use the funds for additional R&D and commercial spending, including clinical studies, new regenerative medicine applications and sales, the company said in an email.
Its corporate headquarters are in Silver Spring, Md., where about 10 percent of its 150 employees work, and it has offices in Roswell, Ga., and Richmond, Calif.
In early June, it appointed Ronald Lloyd as president and CEO. He was previously the president of hospital therapies at Mallinckrodt Pharmaceuticals, where he created an integrated hospital organization with revenues exceeding $1 billion, according to a release.
HighCape, a growth equity fund focused on life sciences companies, in November 2015 partnered with Tissue Banks International to launch Aziyo, its third portfolio company at the time. Deerfield Management Co. joined HighCape in providing capital for the formation.
In May 2017, Aziyo purchased all of cardiovascular equipment maker CorMatrix’s commercial assets and related intellectual property, which it said at the time would double top-line revenue and add 50 employees.
