Belgian developer of endoscopic medical gadgets Endo Instruments Therapeutic yesterday introduced the closing of a spherical of C sequence of about $ 5.7 million (5 million euros).
The tour was led by Epimède and joined by current traders FPIM-SFPI, Chagral Make investments and different particular person traders, the corporate stated. As a part of the financing section, Epimède's co-founder Philippe Degeer will likely be a part of the corporate's board of administrators.
"We consider that ETT is uniquely positioned to vary gastroenterology practices and tackle unmet medical wants. We’re proud and excited to be a part of this journey and are satisfied of the crew's capacity to provide outcomes, "Degeer stated in a press launch.
The proceeds of the tour will likely be used to fund the longer term research and growth of ETT gadgets, together with the continuing growth of its flagship platform, Endomina.
The Endomina system is a triangulation platform that provides new levels of freedom and therapeutic channels to current endoscopes, ETT stated. The system is designed to permit gastroenterologists and surgeons to carry out complicated actions and use a number of devices throughout surgical procedure.
The Endomina platform already has CE marking approval within the European Union and has been utilized in over 230 procedures, the corporate stated.
"With technical and regulatory challenges behind us, these funds will allow Endo Instruments Therapeutics to additional show the effectiveness of our gadget therapies and scaling up," stated Alexandre Chau, Common Supervisor. . m stated in a ready assertion.