Standard Bariatrics, Inc., Cincinnati, OH-based leader in the bariatric surgery medical device field, closed a $35m Series B funding round.
The launch of the Titan SGS® surgical stapler completed the final milestones needed to realize the second of two tranches. The company received the remaining $9m in funds to accelerate commercialization efforts.
Standard Bariatrics is supported through early investment from Queen City Angels and CincyTech, Series A lead investors RiverVest®, Hatteras Venture Partners and Emergent Medical Partners, and Series B investors U.S. Venture Partners (USVP) and River Cities Capital.
Standard Bariatrics is a surgical procedure company focused on the innovative development and commercialization of medical devices.
The Titan SGS surgical stapler design received clearance from the U.S. Food and Drug Administration in April 2021, allowing it to be used in bariatric surgery requiring the creation of sleeve pouch anatomy (sleeve gastrectomy). The completion of a 62-patient study supported the submission.
The design ensures more consistent staple formation across the entire 23-centimeter cutline for improved staple-line strength and fewer malformed staples than competitive staplers that offer short cartridges for more general surgical use. Following FDA clearance, it was first used clinically in August 2021 and sales recently reached approximately $3 million. Since then, Titan SGS has been used in over 1600 clinical cases performed in more than 35 hospital facilities across 12 states. The community of bariatric surgeons using Titan SGS is growing as they share their clinical experiences with the device.
FinSMEs
28/02/2022