BAROnova Secures Financing for Study of Weight-Loss Device
BAROnova has closed Series D financing of $36.5 million to fund a U.S. pivotal study of the company’s TransPyloric Shuttle weight-loss device.
The financing was led by Delos Capital, along with participation from existing investors Lumira Capital Partners, ONSET Ventures and Sante Ventures.
The device is inserted into the stomach through the mouth during an endoscopic procedure. It functions by causing a patient’s stomach to fill up faster, stay full longer and potentially delay gastric emptying, thus enabling overall reduction in caloric intake and weight loss.
The first subject is expected to be enrolled before the end of the year. — Michael Cipriano