Pegasus Bio Raises $20 Million

Pegasus Biologics Inc., an Irvine, Calif.-based developer of bioimplants for soft-tissue repair and wound care for diabetic ulcers, has raised $20 million in Series C funding. Onset Ventures led the deal, and was joined Affinity Capital Management and return backers Three Arch Partners and Frazier Healthcare Ventures. The company previously had raised just under $12 million.