Belgium-based Endo Tools Therapeutics (ETT), a developer of advanced endoscopic medical devices for use by gastroenterologists, has secured €8m through a series D funding round.
The transaction, led by White Fund, is supported by new private investors, as well as the existing investors FPIM-SFPI, Epimède and Chagral Invest.
ETT has developed a triangulation platform, Endomina, that adds therapeutic channels and degrees of freedom for interventional gastroenterology. The platform has been successfully used by physicians during more than 300 procedures.
ETT will use the series D funding to submit a regulatory marketing submission for its medical devices to the Food and Drug Administration (FDA) in the US for soft tissue approximation. ETT also intends to seek further reimbursement within the EU.
The funding will also help to continue R&D efforts into new products and indications, collate evidence on device capabilities, develop a network of centres of excellence and grow and strengthen the organisation.
CEO Alexandre Chau said: With the device’s clinical performance – as outlined in published results by users in the EU over the last few years – we believe that our technology ideally fits patients’ treatment pathways.
“Endo Tools Therapeutics affixed the CE mark to its first medical devices in the EU in 2015. Future FDA clearance will enable us to expand our coverage into the US market and seek wider adoption by healthcare professionals.”
Michel Baijot, chairman of White Fund, said: “We are very pleased to lead this financing round involving FPIM-SFPI, Epimède, Chagral Invest and other private partners and to count Endo Tools Therapeutics as a White Fund investment.
“Endo Tools Therapeutics’ innovative technology could lead to changes in clinical practice. We believe that with the product in development, the impact on patients, the team in place and the market, this will translate into substantial economic value.”