Leptos Secures Series C

Leptos Biomedical Inc., a Brooklyn Center, Minn.-based developer of nerve stimulation therapy for treating obesity, has raised $20 million in Series C funding. The deal includes a pair of $10 million tranches, with the first called down in April and the rest dependent on the achievement of certain milestones. Latterell Venture Partners led the deal, and was joined by return backers Spray Venture Partners, Technology Partners and Thomas McNerney & Partners. The round was first reported by VentureWire. Leptos previously raised a $6 million round in 2004.  www.leptosbiomedical.com