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TYRX raises USD20m led by HLM Venture Partners

TYRX, a company dedicated to the commercialisation of implantable medical devices designed to help reduce surgical-site infections associated with pacemakers and defibrillators, has raised USD20m in venture capital funding.

The funding was led by new investor HLM Venture Partners, along with previous investors Clarus Ventures and Pappas Ventures.

The financing round also included USD4m in debt financing from Comerica Bank.

In connection with the financing, Edward L. Cahill, managing partner at HLM Venture Partners, will join TYRX’s board of directors.

"This continued investment from Clarus and Pappas Ventures, along with participation from new TYRX investor HLM Venture Partners, is a strong validation of TYRX’s products and business strategy," says Robert White, TYRX’s chief executive.

"We are excited to be partnering with Clarus and Pappas Ventures to finance TYRX in the pursuit of making AIGISRx the standard of care in the cardiac rhythm management space," says Cahill. "With over 500,000 critically important pacemakers and defibrillators being implanted annually in the US, and an infection rate that is growing much faster than the growth in procedures, TYRX has a unique and powerful solution."

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