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

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