Israel’s Medigus raises another $7M in support of acid reflux treatment

Israel-based Medigus closed a $7 million funding round, raised through sales of shares and options at about 20¢ apiece (NIS 0.72).

The sale, joined by investors in the U.S. as well as Israel, represents about 21% of the company’s voting power combined with about 17.3 million 3-year options, according to a press release.

Medigus plans to use the new funds to "expedite Medigus’ penetration to the U.S and Europe and to support enrollment of new patients into new and existing medical centers," the company said.

The device maker earlier this year closed an $8 million private placement in support of its SRS Endoscopic system, a minimally invasive treatment for gastroesophageal reflux disease. The SRS Endoscopic device in May 2012 won FDA clearance for the U.S. market.

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