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.”