USGI Medical Obtains $19,500,000 New Round

  • Feed Type
  • Date
    1/27/2015
  • Company Name
    USGI Medical
  • Mailing Address
    1140 Calle Cordillera San Clemente, CA 92673 USA
  • Company Description
    USGI Medical is the pioneer in the development of Incisionless EndoSurgery technology. Our EndoSurgical Operating System will allow complex surgical procedures to be performed using only the natural passageways of the GI tract for access.
  • Website
    http://www.usgimedical.com
  • Transaction Type
    Debt
  • Transaction Amount
    $19,500,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    This funding provides USGI with the capital resources to extend the commercial launch of POSE (Primary Obesity Surgery, Endolumenal) in Europe and the Middle East and begin pre-commercialization activities for the procedure in the U.S., as the company completes the follow-up phase of its U.S. pivotal study known as ESSENTIAL, and prepares to submit an application to FDA for approval. This money will also fund the crossover study as part of the ESSENTIAL trial, health economics research and several important studies in Europe.
  • M&A Terms
  • Venture Investor