EndoGastric Solutions, a Redmond, Wash.-based medical device company developing and commercializing evidence-based, incisionless surgical technology for the treatment of GERD, raised an additional $14.5m and closed its Series I financing at $45m.
Growth capital medical device investor Accelmed joined the round, which had previously raised $30.5m.
The company intends to use the funds to further accelerate commercialization efforts.
in support of the demand for its Transoral Incisionless Fundoplication (TIF® 2.0) procedure performed with the EsophyX® device. Uri Geiger, Ph.D., Co-Founder and Managing Partner of Accelmed, will join the EndoGastric Solutions Board of Directors.
Led by Skip Baldino, President and CEO, EndoGastric Solutions is a medical device company developing and commercializing innovative, evidence-based, incisionless surgical technology for the treatment of GERD.
EGS has combined advanced concepts in gastroenterology and surgery to develop products and procedures to treat gastrointestinal diseases, including the TIF 2.0 procedure—a minimally invasive solution.
The TIF 2.0 procedure is a minimally invasive endoscopic intervention performed with the EsophyX device, which enables anatomical correction of the gastroesophageal valve without incisions or the attendant complications associated with traditional fundoplication. With more than 22,000 procedures performed worldwide, TIF 2.0 offers patients looking for an alternative to traditional surgery or medication an effective treatment option to treat the underlying anatomical cause of GERD.