Endo Tools Therapeutics Secures 8 Million Euros in Series D Funding

Endo Tools Therapeutics Secures 8 Million Euros in Series D Funding

Healthcare Tech Outlook | Monday, January 25, 2021

Endo Tools Therapeutics (ETT) recently announced securing €8 million ($9.5 million) Series D funding round led by the White Fund.

FREMONT, CA: Endo Tools Therapeutics (ETT), creators of innovative endoscopic medical instruments for use by gastroenterologists, receives €8 million ($9.5 million) in Series D funding round led by the White Fund. New private investors and current investors (FPIM-SFPI, Epimède, Chagral Invest, and private investors) will help the deal.

ETT will utilize this funding to apply to the Food and Drug Administration (FDA) in the U.S. for soft tissue approximation for regulatory marketing for its medical devices. ETT aims to pursue further reimbursement in the E.U. as well. Finally, the funding will allow continuing R&D efforts on new products and indications, gather evidence on equipment capabilities, establish a network of centers of excellence, and expand and improve the business.

"With the device's clinical performance—as outlined in published results by users in the E.U. over the last few years—we believe that our technology ideally fits patients' treatment pathways. Endo Tools Therapeutics affixed the C.E. mark to its first medical devices in the E.U. in 2015. Future FDA clearance will enable us to expand our coverage into the U.S. market and seek wider adoption by healthcare professionals," said Alexandre Chau, CEO of Endo Tools Therapeutics.

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."

The White Fund is an early-stage private equity fund devoted solely to the area of medical devices. The fund's financial strength is EUR 20 million ($24.3 million). The objective is to fund about ten of the most ambitious ventures in medical technology. The priorities are 'early-stage' enterprises, with at least evidence of the idea of their technology and objective metrics of market traction. The White Fund's purpose is to finance the pre-marketing phases of ventures and the initiation of sales, with an exit target of five to seven years.

Endo Tools Therapeutics S.A. (ETT), which is based in Gosselies, Belgium. The company's mission is to create modern, incision-free, minimally invasive medical devices with standard endoscopes by gastroenterologists. The business targets indications that cannot be done with traditional gastroscopes, like endoscopic suturing and tissue apposition, which can be utilized in various digestive tract procedures, like bariatric treatments, Gastroesophageal Reflux Disease (GERD), or Full Thickness Endoscopic Resection (EFTR).

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