GI Dynamics bags $32M in private placement

GI Dynamics' EndoBarrier is a gastrointestinal liner designed to treat Type 2 diabetes and obesity--Courtesy of GI Dynamics

Devicemaker GI Dynamics pulled in about $32 million in a private placement, money the company will use to fund the ongoing development of its nonsurgical treatment for obesity and Type 2 diabetes. The Australian-traded company raised the cash through a sale of depositary interests, earmarking the funds to help commercialize its EndoBarrier device and fund a U.S. trial designed to win FDA approval. More

Suggested Articles

LabCorp, Philips and Mount Sinai are coming together to develop an AI-driven pathology center of excellence, aimed initially at cancer diagnosis.

The FDA followed through with plans to end its Alternative Summary Reporting program, making 20 years’ worth of device safety data publicly available.

Janssen tapped Resolution Bioscience to develop a companion diagnostic for Zejula in patients with metastatic castration-resistant prostate cancer.