Endoart completes $10.5 million financing round

By Elaine Rigoli

Tampa, Fla., April 10 - Endoart SA has raised $10.5 million in a series C financing round, an investment the company said will help launch EasyBand in Europe and begin clinical development in the United States.

The clinical development of EasyBand, a remotely adjustable gastric band for severe obesity, is anticipated to take several years before the product can be made available to U.S. patients, according to a news release.

The financing was led by Venture Incubator AG (Switzerland) and Renaissance PME managed by Vinci Capital (Switzerland), with the participation of EMBL Ventures (Germany) and Genevest (Switzerland). A number of existing investors, such as Sofinnova Partners (France), also participated in the round.

Lausanne, Switzerland-based Endoart develops life-enhancing products for serious and debilitating medical conditions, such as obesity.

Issuer: Endoart SA

Issue: Series C financing

Amount: $10.5 million

Investors: Venture Incubator AG, Renaissance PME (Vinci Capital), EMBL Ventures, Genevest, Sofinnova Partners and existing investors.

Announcement date: April 10

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