Endo Tools Therapeutics Secures 8 Million Euros in Series D Funding

Endo Tools Therapeutics (ETT) is 8 million euros richer. 

The company recently completed a Series D funding round (worth $9.5 million) with money from new private investors and existing financiers: (FPIM-SFPI, Epimède, Chagral Invest and private investors).

Michel Baijot, chairman of White Fund, commented: “We are very pleased to lead this financing round involving other private and public 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.”

ETT, developer of advanced endoscopic medical devices for use by gastroenterologists, plans to use its newfound funding to submit a regulatory marketing submission for its medical devices to the U.S. Food and Drug Administration (FDA) for soft tissue approximation. ETT also intends to seek further reimbursement within the European Union.

In addition, the money will help ETT 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 organization.
 
“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,” said Alexandre Chau, CEO of Endo Tools Therapeutics.