IRVINE, Calif.--(BUSINESS WIRE)--Pegasus Biologics, Inc., a privately held developer of unique bioimplants for soft tissue repair and wound care for diabetic ulcers, announced today that it has closed a $20 million Series C financing led by ONSET Ventures. Other investors in the up-round include existing investors Three Arch Partners, Frazier Healthcare Ventures and new investor Affinity Capital Management.