Gimv invests USD 2.7 million in EndoStim as part of a total Series D financing of USD 25 million
EndoStim today announced that the company completed a USD 25 million Series D financing round from an investment syndicate consisting of Gimv, Wellington Partners, and Edeavour Vision, alongside the company’s existing investors. This investment will fund the expansion of the company’s commercialization efforts and will enable it to conduct a pivotal U.S. clinical trial.
EndoStim (www.endostim.com) is a medical device company, based in St. Louis (Missouri) and Nijmegen (The Netherlands), focused on neurostimulation therapy for gastroesophageal reflux disease (GERD). The company has developed a unique, minimally-invasive implantable device designed to provide long-term reflux control by restoring normal esophageal function through low-energy personalized neurostimulation. The EndoStim system is already CE Marked for patients with GERD with symptom duration of six months or longer, and is available in a number of countries throughout Europe, Latin America, and Asia Pacific.
The series D financing will support expanded commercialization efforts for EndoStim’s minimally-invasive GERD therapy outside the United States, a randomized pivotal trial in the United States, and the development of next generation devices.
Patrick Van Beneden, Partner in Gimv’s Health & Care team on this transaction: "We are very excited about EndoStim’s technology and the value it can bring to patients suffering from severe reflux disease. EndoStim’s minimally invasive neurostimulation therapy can offer a solution to patients not sufficiently treated with drug therapy while avoiding the side effects of more invasive surgical procedures."
For more information on this transaction, we refer to the press release of EndoStim in attachment.