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Home » GI Dynamics raises $32M in private placement with group overseas | Medtech funding stories for the week of May 5, 2014

GI Dynamics raises $32M in private placement with group overseas | Medtech funding stories for the week of May 5, 2014

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Weight loss: GI Dynamics raises $32M with private placement

May 2, 2014 by Brad Perriello

Weight loss: GI Dynamics raises $32M with private placement

GI Dynamics said it raised about $31.7 million (A$34.3 million) in a private placement with a group of "sophisticated, professional and accredited investors" overseas.

The Lexington, Mass.-based medical device company, which makes the EndoBarrier gastric sleeve, said the investors were from Australia, Hong Kong, the U.K. and “certain other jurisdictions.” >Read more

Lightstone targets medtech and lifesciences with new $172M fund

May 5, 2014 by Arezu Sarvestani

Lightstone targets medtech and lifesciences with new $172M fund

Lightstone Ventures is ready to make some disruptive companies with its newly raised $172 million medtech and lifesciences fund, saying that market outlooks are promising for new products.

The new raise tallies Lightstone’s “largest, 1st-time, U.S. life sciences venture fund raised in over 2 years,” and the investment firm already has some companies on the bankroll. Lightstone made unquantified investments in a trio of companies, including hearing technology maker EarLens, therapeutic devices maker FIRE1 and biopharmaceutical firm Catabasis. Read more

ForSight moves on to VISION6 with $6M equity funding round

May 6, 2014 by Arezu Sarvestani

ForSight moves on to Vision6 with $6M equity funding round

California ophthalmic incubator ForSight Labs is seeking $6 million in order to fund its VISION6 project, the latest in a string of developments spun out of the company.

The company declined to provide details on the new initiative, but an SEC filing shows that ForSight has already raised $1 million through sales of equity. The funding round began April 25 and there is 1 unnamed investor listed thus far. Read more

EndoGastric Solutions raises $30M in support of acid reflux device

May 7, 2014 by Arezu Sarvestani

EndoGastric Solutions raises $30M in support of acid reflux device

California-based EndoGastric Solutions touted $30 million raised in a Series G fundraising round in support of its acid reflux treatment device.

EndoGastric hopes to publish data from a trio of clinical trials, pursue reimbursement and develop new products with the funds, the company said. The company makes endoscopic surgical equipment for tissue-stapling in the stomach and esophagus, designed to treat reflux disease and, eventually, for bariatric applications. Read more

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