Endo Tools Therapeutics, a Brussels, Belgium-based developer of advanced endoscopic medical devices to treat obesity, digestive tract tumors and type II diabetes, closed a €2.5m (approximately $3.3m) second round of funding.
The round was led by an unnamed private investor with an existing interest in medical devices.
A spin-off from the Universite Libre in Brussels, Endo Tools Therapeutics is developing Endomina(TM), a device that provides:
– gastroenterologists and surgeons with the capability to perform complex movements and use multiple instruments when operating,
– patients with reduced requirement for anesthesia associated and a shorter stay in hospital and improved comfort
– hospitals and health systems with a reduction in the overall cost of intervention.
Led by Alexandre Chau, CEO, the company intends to use the funds to produce its new devices, receive CE mark approval within the next few months, and launch a pan-European clinical study (in France, Germany, Belgium and Italy).