Pegasus Biologics Inc., an Irvine medical device company, said it raised $10 million in a second round of venture funding.
Three Arch Partners of Portola Valley and Frazier Healthcare Ventures of Seattle led the round.
Pegasus said part of the money would be used to launch its OrthAdapt Bioimplant, which helps repair soft tissue in orthopedic and sports medicine surgeries.
On its Web site, Pegasus said clinical studies showed that OrthAdapt could be suitable for orthopedic conditions where there is a need to reinforce soft tissue.
Pegasus, founded in 2003, is developing collagen-based bioimplants to repair soft tissue defects in orthopedic, spine and neurosurgery conditions.
The company said its product could be used to repair anterior cruciate ligament damage.
