Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.GI Dynamics, a medical device company, has closed an additional $15 million in series C financing. With this additional funding, GI Dynamics has closed a total of $45 million in series C financing, bringing the total raised by GI Dynamics since its inception to $61 million.
Subscribe to our email newsletter
Proceeds from this financing will be used to continue to advance the clinical development of the company’s EndoBarrier gastrointestinal liner and endobarrier platform of medical devices for the treatment of metabolic disorders, including type 2 diabetes and obesity.
Participants in the round included all of GI Dynamics’s current institutional investors: Advanced Technology Ventures; Catalyst Health Ventures, Cutlass Capital; Domain Associates, Johnson & Johnson Development and Polaris Venture Partners.
Stuart Randle, CEO of GI Dynamics, said: “This funding further strengthens our ability to aggressively advance EndoBarrier into the next stage of clinical trials for the treatment of type 2 diabetes and obesity, while continuing to develop additional products for the treatment of metabolic disorders based on the EndoBarrier intellectual property.”