Clarus Ventures, a life sciences venture capital firm, led the round and was joined with a follow-on investment by FatBoy Capital. In conjunction with the financing, Kurt Wheeler of Clarus Ventures will join the InSet Technologies’s board of directors.
Steve Adler, president and CEO of Inset Technologies, said: “Completion of our financing in this difficult economic environment is a strong testament to the value of our technology, the progress of our company, and the insight of Clarus Ventures and our other investors. With this funding, we look forward to continuing our progress to provide new therapeutic options to both physicians and patients.
“Additionally, we are excited to have Kurt Wheeler join our board of directors. Kurt brings 25 years of experience successfully commercializing medical device companies to InSet Technologies’s board.”