Biotech Startup, Maryland’s Health Raises $10 Million

Maryland’s health tech startup ecosystem is at it again. Silver Spring-based startup which is named as Aziyo Biologics Inc. has raised an amount of $10 million from seven leading investors in a funding round which has been disclosed yesterday night in SEC filings.

The startup which has been founded in the year 2015, Aziyo is a private, commercially-oriented biotech company which is more focused on regenerative medicine in cardiology, orthopedics and wound care. It previously raised an amount of $12 million in June last year, in a round which is led by parent company HighCape Partners.

The firm’s products are used mostly as implants for surgical process and are mostly used in hospitals and pathology labs. 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’s corporate headquarters are based out of Silver Spring, Md., and it has offices in Roswell, Ga., and Richmond, Calif. The company was not immediately available for any type of details which are present.

In the month of June this year, the company has 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.

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