Friday, February 15, 2013

BAROnova Gets $27.3M For Weight Loss Device

Goleta-based medical device developer BAROnova announced this morning that it has raised a big, $27.3M funding round to fund clinical trails for its weight loss device. The firm said the Series C funding was led by Sante Ventures and Boston Scientific Corporation, and also included ONSET Ventures, Highland Capital Partners and Arboretum Ventures, and Lumira Capital. BAROnova said those funds will go towards a stufy of its TransPyloric SHuttle weight loss technology, a mechanical device which the firm says is expected to slow the digestion process and create a sensation of fullness. The device is implanted endoscopically in patients through an outpatient procedure. BAROnova is headed by Hugh Narciso. More information »

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