The firm’s Titan SGS stapler enables surgeons to conduct sleeve gastrectomy
The Titan SGS stapler.(Credit: Standard Bariatrics)
Standard Bariatrics has secured $35m in Series B funding to boost the development and commercialisation of its bariatric surgical platform for sleeve gastrectomy.
The company has developed Titan SGS stapler, which is claimed to be the first-of-its-kind system that enables surgeons to conduct sleeve gastrectomy.
In April this year, the company secured approval from the US Food and Drug Administration for the Titan SGS stapler for use in bariatric surgery that needs to create sleeve pouch anatomy.
The submission is based on the completion of a successful 62-patient study.
Standard Bariatrics CEO Matt Sokany said: “We are thrilled to have received clearance from the FDA in April of 2021 for our Titan SGS stapler.
“Now, completing Series B financing immediately following FDA clearance gives us the needed capital to scale our commercialization plans for the solutions we offer surgeons for use in sleeve gastrectomy and to continue developing our technology platforms.”
The financing round was led by U.S. Venture Partners (USVP), and participated by Series A syndication investors RiverVest Venture Partners, Hatteras Venture Partners, Queen City Angels and Emergent Medical Partners.
The financing round also the participation of new investor River Cities Capital.
Standard Bariatrics said that Titan SGS is designed to meet the needs of a bariatric surgeon performing sleeve gastrectomy.
It offers real-time audio and visual feedback, graduated staple height formation, tissue-sensing technology and a firing cycle optimised specifically for the patient’s gastric tissue during gastrectomy pouch creation.
The Titan SGS long staple line allows surgeons to plan and place staples in one firing.