EndoGastric Solutions, a Redwood City, California-based leader in the endoluminal treatment of digestive diseases, has completed a $13m extension of its 2010 Series F funding.
Backers include existing investors including Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners, De Novo Ventures, Foundation Medical Partners, Oakwood Medical Investors and Radius Ventures.
The company intends to use the funding for ongoing clinical trial initiatives, advance reimbursement efforts, and continue research and development programs.
Led by President and CEO Mike Kleine, EndoGastric Solutions EndoGastric Solutions aims to develop procedures and products that address unmet needs in gastrointestinal diseases. Its EsophyX device, which was FDA cleared in 2007, is commercially available in the United States. Inserted transorally with visual guidance from an endoscope, the EsophyX device is used in the Transoral Incisionless Fundoplication (TIF) procedure to reconstruct the gastroesophageal valve (GEV), restoring its competency and reestablishing the barrier to reflux.
TIF is a surgical solution that corrects the root cause of Gastroesophageal Reflux Disease (GERD), a disease that affects over 60 million people in the U.S.
To date, over 10,000 patients have been treated with the company’s TIF procedure globally.