ObjectiveGI Secures $6.6M Series A Funding to Advance GI Research for NASH Treatment

VCBeat (WeChat ID: vcbeat) learned from foreign media that on December 20, 2019, ObjectiveGI, a U.S.-based comprehensive medical research and technology services platform, announced the completion of a $6.6 million Series A financing round. The round was led by Frist Cressey Ventures, with other investors’ information undisclosed.

Upon completion of this funding round, Chris Booker and Navid Farzad, partners at Frist Cressey Ventures, will join the board of directors of ObjectiveGI.

ObjectiveGI, a privately held company dedicated to the field of gastroenterology (GI), was founded in 2018 and is headquartered in Franklin, Tennessee, USA. Initially focused on non-alcoholic steatohepatitis (NASH), ObjectiveGI has since expanded its scope to include clinical research, gastroenterology research, microbiome research, and physician collaborations. Since its inception, the company has partnered with gastroenterologists to establish 10 “Centers of Research Excellence,” providing valuable care services to over 3,000 patients. Today, these centers are located in Alabama, Arkansas, Florida, Maryland, Michigan, North Carolina, South Carolina, and Tennessee.

ObjectiveGI’s tenth “Center of Research Excellence” was established in September 2019 and completed a new round of financing in December 2019. ObjectiveGI aims to double the number of clinically integrated research sites by the end of 2020 to address the rising prevalence of NASH.

NASH is a chronic disease stemming from obesity that causes liver inflammation and fibrosis, potentially leading to cirrhosis, cardiovascular and renal diseases, liver cancer, and ultimately death. It is reported that by 2021, NASH will become the leading indication for liver transplantation. In addition to liver failure, patients with NASH face a sharply increased risk of liver cancer. Although gastrointestinal research aimed at treating NASH has been conducted globally, such efforts are still in their infancy. Currently, there are no approved therapeutic options for this disease, and the global economic burden amounts to billions of dollars annually.

Researchers have found that weight loss through dietary adjustments and exercise is the only available treatment option for NASH. Based on this finding, ObjectiveGI seamlessly integrates gastroenterology research services into community-based local gastroenterology practices, guiding patients to improve their personal health through frequent research visits and a focus on metabolic improvement, thereby achieving therapeutic outcomes.

“ObjectiveGI offers a different approach to research. By collaborating with leading gastroenterologists, we aim to improve patient outcomes,” said Colleen Hoke, President and CEO of ObjectiveGI. “This is an exciting time, and we look forward to scaling up and growing our business to enhance our impact on patients across China.”

Bill Frist, MD, Co-Founder and Partner at Frist Cressey Ventures, stated, “Frist Cressey Ventures is committed to supporting partners that deliver the greatest value to patients and society as a whole. Amid the growing demand for NASH research, ObjectiveGI is uniquely positioned to improve healthcare and patient outcomes. We are pleased to support ObjectiveGI as it continues to provide innovative, high-quality care solutions for patients with NASH.”

Frist Cressey Ventures is a company dedicated to accelerating the growth of high-potential healthcare enterprises through value-added partnerships. Founded in 2016 and headquartered in Tennessee, USA, the firm primarily invests in the healthcare services and information technology sectors, which share its core values in pursuing improvements in healthcare delivery.

(Compiled by Yang Xiaohui)