Torax Medical, a St. Paul, Minnesota-based medical device company that develops and markets products designed to treat chronic diseases related to defective sphincter muscles, has completed a $30m Series D financing.
The round was led by Piper Jaffray Merchant Banking, with participation from Sanderling Ventures, Thomas, McNerney & Partners, Accuitive Medical Ventures, Kaiser Permanente and Mayo Medical Ventures.
The company intends to use the proceeds to expand commercialization efforts for its family of sphincter augmentation products.
Led by Todd Berg, CEO, Torax Medical offers the LINX® Reflux Management System, a surgical treatment of Gastroesophageal reflux disease (GERD), which was approved by the US Food and Drug Administration (FDA) in March following a unanimous recommendation by an FDA advisory review panel.
The company’s FENIX™ Continence Restoration System for the treatment of Fecal incontinence (FI) is marketed in Europe.