Torax Medical, Inc., a St. Paul, Minn.-based developer of products designed to treat sphincter disorders, completed a $25m Series E financing.
The round was led by Johnson & Johnson Innovation – JJDC, Inc. with participation from existing investors Sanderling Ventures, Thomas McNerney & Partners, Accuitive Medical Ventures, Kaiser Permanente Ventures, Piper Jaffray Companies, and Mayo Clinic Ventures.
The company will use the funds to commercially scale its platform of products, which are used to treat chronic diseases related to weak sphincter muscles.
Led by President and CEO Todd Berg and newly appointed Chief Commercial Officer Chas McKhann, Torax Medical develops and markets products designed to treat sphincter disorders utilizing its technology platform, Magnetic Sphincter Augmentation (MSA). It is currently marketing the LINX® Reflux Management System for the treatment of gastroesophageal reflux disease (GERD) and the FENIX® Continence Restoration System for the treatment of fecal incontinence (FI), in both the U.S. and Europe.