EndoStim, Inc., a St. Louis, Missouri, and Nijmegen, The Netherlands-based medical device company that has developed neurostimulation therapy for gastroesophageal reflux disease (GERD), completed a $25m Series D financing round.
Endeavour Vision, an investor in healthcare and technology companies, led the round, with participation from existing investor Santé Ventures and new investors Wellington Partners and Gimv.
The company will use the funds to expand commercialization efforts for its minimally-invasive GERD therapy outside the United States, conduct a randomized sham-controlled pivotal trial in the United States and develop next generation devices.
Led by Bevil J. Hogg, founder, President and Chief Executive Officer, Virender K. Sharma, founder and Chief Medical Officer, Peggy S. Stohr, Chief Financial Officer, Shai Policker, Chief Operating Officer, Paul Goode, PhD, Senior Vice President, Research and Development, EndoStim has developed a minimally-invasive implantable device designed to provide long-term reflux control by restoring normal esophageal function through low-energy personalized neurostimulation. The therapy directly targets the patient’s weak or dysfunctional lower esophageal sphincter (LES) muscle between the stomach and the esophagus, often the underlying cause of reflux.
The EndoStim system is CE Marked for patients with gastro-esophageal reflux disease with symptom duration of six months or longer, and is available in a number of countries throughout Europe, Latin America, and Asia Pacific. It is not approved for sale in the US.