EndoStim has raised $6m in Series B equity financing. Sante Ventures, a life science venture capital firm, led the round and was joined by the Prolog Ventures, Vectis Healthcare & Life Sciences Fund II and returning angel investors.
EndoStim has beeen developing a new treatment for sphincter related disorders such as Gastroesophageal Reflux Disease (GERD) and Urinary Urge Incontinence by restoring physiological function through neurostimulation.
Virender Sharma, founder and chief medical officer of EndoStim, said: “With the procedure we have developed, we believe we can offer a lower cost, interventional solution for treating severe or refractory GERD and reach the many patients currently unresponsive to or dissatisfied with their medical therapy.”
Bevil Hogg, president and CEO of EndoStim, said: The financing will be used to continue clinical trials and pursue CE Mark and FDA approval. We are positioned to establish a new ‘gold standard’ treatment for severe GERD and potentially urinary incontinence. With this round of funding we can continue to build on the momentum we’ve already achieved.”
St Louis-based EndoStim is a medical device company developing minimally-invasive interventional therapies to treat gastrointestinal and urological neuro-muscular disorders. The company also develops microstimulator technology to treat a number of widely prevalent sphincter-related disorders.