BAROnova is a clinical-stage medical device company based in San Carlos and Goleta, California, led by CEO David Thrower. The company developed the TransPyloric Shuttle (TPS), a non-surgical, non-pharmacologic device intended to slow gastric emptying so patients feel fuller longer. The TPS is inserted through a brief endoscopic procedure and is currently being evaluated in an ongoing FDA pivotal clinical study. That study is designed to demonstrate the device's relative efficacy and safety when used with modest diet and lifestyle support versus diet and lifestyle support alone. Financially, BAROnova recently completed a Series D equity round and has obtained additional financing to support continued growth and strategic initiatives. BAROnova develops the TransPyloric Shuttle (TPS), an endoscopically delivered, minimally invasive implanted device intended for weight loss. The TPS is inserted through the mouth in an endoscopic procedure and is designed to make the stomach fill faster, keep patients full longer and potentially delay gastric emptying. The device was invented by BAROnova board member Daniel Burnett, MD, President and CEO of TheraNova, LLC. The FDA granted BAROnova unconditional approval to initiate a U.S. pivotal clinical investigation (ENDObesity II) to support a Premarket Approval application, and the company expects to enroll the first subject by the end of the year. Financially, BAROnova raised $36.5 million in a Series D to fund the U.S. clinical study, its largest financing since a $27.3 million raise in 2013, according to CEO Hugh Narciso. Investors cited the device's differentiated technology and potential to offer a less invasive alternative to surgical weight-loss options. BAROnova is a clinical-stage medtech company focused on endoscopically-delivered treatments for obesity. Its lead product is the TransPyloric Shuttle (TPS) weight-loss device, a mechanical implant designed to slow digestion and create a sensation of fullness. The TPS is placed into the stomach endoscopically through the mouth in an approximately 10-minute outpatient procedure and can be removed as needed. The company plans to use new capital to run a pivotal study of TPS aimed at obtaining U.S. and European regulatory approvals. BAROnova is led by Founder, President and CEO Hugh Narciso. The company is based in Goleta, California. BAROnova develops medical devices intended to treat obesity. The company is based in Goleta. According to the PricewaterhouseCoopers/NVCA MoneyTree report it raised $5.2M in new funding. The funding has not been reported elsewhere and no deal terms or instrument details have been announced. BAROnova has previously raised capital from Allergan, Arboretum Ventures, DeNovo Ventures, Highland Capital, Interwest Partners, Latterell Venture Partners, Morgenthaler Ventures, ONSET Ventures, and SV Life Sciences. It is unclear which, if any, of those firms participated in this recent $5.2M round. BAROnova develops the TransPyloric Shuttle, an endoscopically placed device positioned at the pylorus intended to extend satiety and reduce hunger impulses. The shuttle is inserted at the opening of the small intestine at the bottom of the stomach. The company presents the approach as a safer alternative to gastric bypass and other surgical weight-loss procedures. BAROnova plans to use new funding to continue development of the TransPyloric Shuttle. The company is based in Goleta, California. Prior investors from a 2006 financing include Highland Capital Partners, Onset Ventures and Arboretum Ventures.

Total raised

$84M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Sep 2016