USGI Medical, Inc., a San Clemente, CA-based company pioneering incisionless procedures for weight loss, closed an over $19.5m financing.
Backers included Alta Partners and GE Capital, Healthcare Financial Services, which agented the senior secured debt facility with East West Bank participating as a syndicate partner.
The company intends to use the funds to extend the commercial launch of POSE™ (Primary Obesity Surgery, Endolumenal) in Europe and the Middle East and begin pre-commercialization activities for the procedure in the U.S., as it completes the follow-up phase of its U.S. pivotal study known as ESSENTIAL™, and prepares to submit an application to FDA for approval, to fund health economics research and other important studies in Europe.
Led by Scott Moonly, President and CEO, USGI Medical is committed to the development of technologies to enable Incisionless Surgery – the treatment of diseases through the natural passageways of the body. Its Incisionless Operating Platform provides physicians the operating platform and specialized tools they need to perform procedures through a patient’s mouth or other natural orifices, eliminating the need for scarring incisions into the abdomen.
FinSMEs
26/01/2015