Monday, August 30, 2010

EndoGastric Solutions Raises $30M

Redwood City-based EndoGastric Solutions, a developer of treatments for upper gastrointestinal diseases, including gastroesophageal reflux disease (GERD), announced this morning that it has raised $30M in a Series F financing round. The funding was led by Canaan Partners and Radius Ventures, and also included existing investors Advanced Technology Ventures, MPM Capital, Foundation Medical Partners, Chicago Growth Partners, and De Novo Ventures. The company explained that its new funding will go towards commercialization initiatives and expanding clinical trial initiatives. As part of the funding, Brent Ahrens of Canaan Partners and Kathleen Regan of Radius are joining the firm's board of directors. More information »