EndoGastric Solutions, a Redmond, WA-based is a medical device company, secured additional new financing of up to $50.0m.
Backers included CRG (formerly Capital Royalty L.P.) and existing investors Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners, Foundation Medical Partners, and Radius Ventures.
The company plans to use proceeds to begin broad-scale commercialization, as well as making further R&D investments in advanced products used in their TIF procedure.
Founded in 2003 by Skip Baldino, President and CEO, EndoGastric Solutions focuses on developing and commercializing incisionless surgical technology for the treatment of gastroesophageal reflux disease (GERD).
The company has combined advanced concepts in gastroenterology and surgery to develop the Transoral Incisionless Fundoplication (TIF®) procedure, which, performed without the need for external incisions through the skin, offers patients who require an anatomical repair another treatment option to correct the underlying cause of GERD.