EndoGastric Solutions, which develops therapies for gastroesophageal reflux disease, secured $30.5 million in new financing.
Here’s what you need to know:
1. The financing was led by several healthcare investors, including Advanced Technology Ventures, Canaan Partners, Canepa Healthcare and Chicago Growth Partners, among others.
2. EGS plans to supplement its current cash balances with the new financing to further the commercial expansion of its TIF procedure.
3. EGS also plans to optimize its gross margin by investing in sustained engineering.
4. "This round of funding will enable EGS to continue to expand commercial operations and provide the millions of patients suffering from GERD access to the TIF procedure," said Skip Baldino, president and CEO of EndoGastric Solutions.
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