Flowonix Medical, a medical device company focused on providing implantable drug delivery solutions, obtained financing totaling approximately $15.5 million.

The transaction included an $10.5 million investment, led by insiders including Clarus Ventures and other existing Flowonix investors.

The transaction also included $5 million in venture term debt financing, adding to its existing debt arrangement with Hercules Capital.

“We are very fortunate to have strong financial backing from our existing shareholders and, Hercules Capital, as we continue to make investments in our growth initiatives,”‘ said Lou Altieri, chief financial officer of Flowonix.