St. Louis-based EndoStim, the maker of a device that uses electrical stimulation to treat acid reflux, has published interim results it said demonstrates the safety and efficacy of its minimally invasive LES therapy.
The study, which was published in the journal Alimentary Pharmacology & Therapeutics, said that 41 patients from 10 sites using the device had "significant improvements" in both gastroesophageal reflux disease (GERD) symptoms and esophageal acid exposure after 6 months of therapy, the company said in a press release.
Before using EndoStim's therapy, 91% of the patients were taking at least daily proton pump inhibitor (PPI) medication and 58% were taking PPI at least twice a day. At the 6-month mark of the study, 93% no longer depended on PPI medication.
Additionally, the patients in the study experienced fewer days and nights of heartburn and/or regurgitation, while experiencing improved sleep and less disruption during work or other activities.
|Dr. Peter Siersema|
"Our results show uniformity in outcome across multiple centers as well as consistency with the results reported in a single center study with published results up to two years of follow-up," Dr. Peter Siersema, chief of the Department of Gastroenterology and Heptalogy at the University Medical Center, Utrecht, the Netherlands, and senior author of the study, said in a statement.
In May, the company filed documents with the SEC that said it had raised half of a planned $5 million offering from a single investor, the St. Louis Business Journal reported. The name of the investor wasn't disclosed. EndoStim has raised a total of $45 million in funding, and reported revenue of $324,837 for the first half of 2014.
Late last year, EndoStim postponed its plans for going public, citing poor market conditions. The company had hoped to sell 3.2 million shares at $11 per share in the offering.
Investors in the St. Louis area include Stifel's Vectis Healthcare & Life Sciences Fund II, Prolog Ventures, St. Louis Arch Angels, Saint Louis University Billiken Angels Network and the Missouri Technology Corp. Austin, TX-based Santé Ventures, a prominent funder of many device startups, also is an investor in EndoStim.
- see EndoStim's release