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."
GI Dynamics said it plans to use the proceeds to back its U.S. pivotal trial, expand its footprint overseas and for general working capital purposes.
"We are very pleased with the successful completion of this financing," CEO Stuart Randle said in prepared remarks. "This financing provides additional resources to support our ongoing pivotal trial in the U.S. This capital also allows us to continue to execute on our global dual-pronged commercial strategy focused on driving sales in the near term in self-pay markets, while building for the long-term success and future growth of EndoBarrier therapy in reimbursed markets."