Metamodix, a Minneapolis, MN-based company developing minimally invasive therapies for the treatment of metabolic disorders such as Type 2 Diabetes and obesity, secured $1.75M as part of a Series A funding round.
The round was led by Antipodean Advisors LLC, an investment advisory firm based in New York. As part of the investment, Viraj Mehta will be joining the board of Metamodix as a director.
Founded in 2009 and led by CEO Kedar Belhe, PhD, MBA, Metamodix developed a drug-free, nonsurgical device therapy designed to eliminate symptoms and reduce weight in those who suffer from Type 2 Diabetes.
The company now intends to use the proceeds to complete a first-in-man clinical trial of its EndoSleeve™ therapy as a treatment option for patients suffering from Type 2 Diabetes and obesity.