Funding Round Nets $11.3 Million for Absorbable Medical Device Maker Tepha, Inc.

Absorbable medical devices firm Tepha Inc. has raised $11.3 million in equity funding from 38 unnamed investors, according to federal filings today. The Lexington-based company makes absorbable biomaterials that the company says adds flexibility, elasticity and biocompatibility to medical device products. Its TephaFLEX polymer has been used in U.S. Food and Drug Administration-approved surgical suture and surgical meshes. It was founded in 1998 as a spinoff of a collaboration between its sister company Metabolix Inc. in Cambridge and Children’s Hospital Boston to develop technologies related to cardiac tissue engineering.

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