J & J gets in on $25m Torax Medical Series E

Torax Medical recently updated on the $25 million Series E round it 1st announced in an SEC filing in late July, saying the round was led by Johnson & Johnson Innovation. Funds from the round are slated to commercially scale its platform of products used to treat chronic diseased related to weak sphincter muscles, including its Linx reflux management system and Fenix continence restoration system. “Strong commercial success of both our Linx and Fenix devices has established a foundation that we will now use to accelerate our sales growth. Our goal is to provide first line minimally invasive therapies to patients suffering from GERD and FI. These chronic diseases are both debilitating to patients’ quality of life and a major economic burden on our healthcare system. With the addition of Chas to the Torax Medical leadership team along with the financial contributions and strategic capabilities of the investors participating in our Series E financing, we will significantly expand patient access to the unique clinical benefits of the Linx and Fenix products,” CEO Todd Berg said in prepared remarks. Joining the funding round were existing investors Sanderlin Ventures, Thomas McNerney & Partners, Accuitive Medical Ventures, Kaiser Permanent Ventures, Piper Jaffray Companies and Mayo Clinic Ventures. As part of the financing round, the company said it appointed ex-Intersect ENT (NSDQ:XENT) Chas McKhann as its chief commercial officer. In April, Torax Medical sa...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Torax Medical Inc. Source Type: news