MicroCHIPS Inc. corraled a group of existing investors and roped in a new backer into the fold, adding $16.5 million to its coffers as it works toward bringing its platform monitoring and treatment implant technology to market.

Existing backers Polaris Venture Partners, Novartis Venture Fund, Flybridge Capital Partners, Medtronic (NYSE:MDT), Saints Capital, Intersouth Partners, Care Capital and CSK Venture Capital all upped their investment in the Bedford, Mass.-based company. New backer InterWest Partners also chipped in.