Californian ValenTx Completes $22 Million Series B Financing

Carpinteria, Ca.-based ValenTx closed a $22m Series B Preferred Stock financing in a round led by SV Life Sciences and joined by Covidien Ventures and the Company’s existing venture capital investors Sapient Capital, EDF Ventures, Kaiser Permanente Ventures, Affinity Capital Partners, and TGap Ventures.
The funds will be used to further develop and commercialise ValenTx’s less-invasive, implantable medical device to address morbid obesity and the diseases, like diabetes, associated with it.
James Wright, President of ValenTx, was reported as saying: “With this financing we will continue our Company’s development with the goal of offering a safe and effective treatment option for morbid obesity to help address the challenge this problem presents to our global community”.

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