Connecticut Venture Group members Canaan Partners and Radius Ventures have co-led a $30 Million Series F financing designed to support ENDOGASTRIC SOLUTIONS (EGS),the recognized leader in the emerging field of Natural Orifice Surgery (NOS), through profitability. Existing investors Advanced Technology Ventures, MPM Capital, Foundation Medical Partners, Chicago Growth Partners, and De Novo Ventures joined to finalize the investment round.
Brent Ahrens, General Partner of Canaan Partners, commented, “EndoGastric Solutions sits in the unique position of offering patients and surgeons therapeutic solutions to significant unmet clinical needs. The company has demonstrated a clinical advantage, developed a business model to bring this value to patients, and built a management team that knows how to execute. We are excited to support the company in accelerating the adoption of these innovative procedures and building a franchise with significant value.”
Kathleen Regan, Venture Partner of Radius Ventures, added, “It is rare to find a company experiencing this level of growth and addressing markets as substantial as reflux and obesity. We believe firmly that EndoGastric Solutions is on the path to establishing NOS as the standard of care in these two areas.” Following the investment, Brent Ahrens and Kathleen Regan joined the Board of Directors for EndoGastric Solutions. Rockport Ventures advised on the transaction.