Interlace Medical, a U.S. company medical devices, has raised $ 20.5 million in Series C funding. The product will be used to start marketing the system MyoSure, a minimally invasive treatment for uterine fibroids and extract polyps.Baird HLM Venture Partners and Venture Partners led the round, with Hambrecht and Quist Capital Management, Aperture Venture Partners. Existing investors New Leaf Venture Partners and Spray Venture Partners, also participated in the round.Fibroids are a common cause of abnormal uterine bleeding, which affects over ten million women in the U.S.. The system eliminates MyoSure uterine fibroids and polyps and allow doctors the flexibility to carry out the procedures in the room or an operation or in the office, the company said. We are very pleased to join this group of firstlevel investors to launch our initial product, said Bill Gruber, president of Interlace. There is a great need for less invasive solutions that offer secure, reliable, fast and methods for the removal of fibroids and polyps. MyoSure procedure offers women an excellent alternative to conventional surgical treatments. The health sector for women has always been an underserved market in dire need of better medical solutions as an alternative to traditional surgery and drug therapies, said Michael Liang, director of Baird Venture Partners. Interlace has focused on a particular sector, where treatment options are not ideal, and we believe that interlace has developed and patented a unique system that will be welcomed by gynecologic surgeons. As part of the transaction, Liang and Albert Wiegman, HLM Venture Partners, will join the board of interlaced directors.Baird Venture Partners invests in early and business services and expansion stage companies in life sciences. HLM Venture Partners provides venture capital to emerging companies focused on health IT, health services and medical technology. Copyright 2009 AltAssets Private Equity Newsraquo br; For News Typeraquo; NewsPrivate Equity Deal Newsraquo; by EP Sectorraquo; Venture / GrowthPrivate Equity Newsraquo; For Regionraquo; Americaraquo North America br br
