Cytrellis Biosystems Closes $ 50 Million Series C Funding




Cytrellis Biosystems, a Woburn, Massachusetts-based medical technology company dedicated to the development and commercialization of aesthetic devices that focus on safety, efficacy and improving the quality of life for patients, closed a $ 50 million Series C funding round.

The round was led by D1 Capital Partners with the participation of an additional new investor, Sands Capital, as well as existing institutional investors ARCH Venture Partners and PFM Health Sciences.

The company intends to use the funds to expand its business infrastructure as well as to support additional clinical research, product development and manufacturing.

Led by Karen Cronholm, President and CEO, Cytrellis Biosystems has developed a new class of cosmetic devices designed to remove sagging skin associated with aging without surgery or scarring, enabling cosmetic practitioners to improve skin changes associated with aging. age and restore youthful beauty. The ellacor â„¢ System with Micro-Coring â„¢ Technology is indicated for use by healthcare professionals for the treatment of moderate to severe wrinkles in the middle and lower face in adults 22 years of age or older with skin types Fitzpatrick I-IV. The recent FDA clearance of Ellacor * paves the way for an initial commercial deployment, which Cytrellis intends to execute with a small group of key physicians. The company plans a full national rollout in 2022.

FinSME

22/09/2021




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