GI Windows Corp Secures $14.6M Series A Funding to Advance Anastomosis Technology for Type 2 Diabetes and Obesity

VCBeat (WeChat ID: vcbeat) learned from foreign media that on December 11, 2019, local time, GI Windows, a clinical-stage, privately held medical device company, announced it had secured $14.6 million in Series A financing. The round was co-led by GT Healthcare Capital Partners and Sonder Capital. The proceeds will be used to support further product development and clinical studies of GI Windows’ patented technologies in next-generation clinical procedures and tissue integration.

Following the completion of this funding round, Payson Coleman was elected by the Board of Directors as an independent board member. Previously, GI Windows had completed three rounds of financing, totaling $11.1 million.

GI Windows, founded in 2012 and headquartered in West Bridgewater, Massachusetts, is a clinical-stage medical device company. The company was originally spun out of Beacon Endoscopy, which was acquired by Covidien in 2014.

GI Windows provides non-surgical treatment for patients with type 2 diabetes and obesity by creating endoluminal anastomoses that bypass portions of the gastrointestinal tract.

Colby Wood, a partner at Sonder Capital, stated, “GI Windows is committed to achieving the first fundamental breakthrough in anastomosis technology, a field characterized by significant unmet clinical needs and substantial, growing market opportunities.”

Alan Au, Managing Partner at GT Healthcare Capital, commented, “We are delighted to participate in GI Windows’ revolution in reshaping and simplifying digestive system procedures, which benefits patients and helps reduce healthcare costs.”

Brian Tinkham, CEO and President of GI Windows, stated, “We are excited by the strong commitment and enthusiasm from our investors. Over the past 12 months, our team has made significant strides in clinical program development. GI Windows’ technology will demonstrate superior clinical outcomes while reducing healthcare costs for both patients and providers.”

GT Healthcare Capital, established in September 2015 and headquartered in Hong Kong, China, is an Asian private investment partnership specializing in global healthcare investments, with the aim of transforming the technological landscape to benefit patients.

Sonder Capital is a venture capital firm headquartered in Silicon Valley, USA, primarily investing in early-stage medical technology companies. The Sonder Capital team comprises industry veterans with decades of experience in entrepreneurship, operations, and investment. The firm selectively partners with family office investment teams to help innovators craft their narratives with a craftsman-like approach.

(Compiled by He Li)