Apollo Endosurgery, a developer of surgical tools and therapeutic endoscopy, has received a fund of $47.6m.

In this latest round of financing for the Austin-based Apollo, new investors including Denmark-based Novo A/S, Dallas-based Remeditex Ventures and CPMG have joined Austin-based PTV Sciences and Miami-based HIG BioVentures who are Apollo’s existing investors.

The proceeds will be used by Apollo Endosurgery to introduce the second generation OverStitch Endoscopic Suturing System and other Apollo Endosurgery flexible surgical tools.

Novo A/S Nielsen said they are confident that Apollo Endosurgery’s OverStitch platform allows physicians to access, manipulate and suture internal tissue without making incisions through the skin and will truly drive this emerging market.

Apollo Endosurgery president and CEO Dennis McWilliams said they are pleased to have this strong financial support from both their new and existing investors, which will enable a successful launch of the OverStitch platform and the broader adoption of flexible surgical approaches for numerous medical conditions.