GI Dynamics is a Lexington, Mass.-based medical device company that makes the EndoBarrier gastric sleeve for weight loss. The company focuses on endoscopic approaches to treat obesity through its EndoBarrier product. On May 2, 2014, GI Dynamics said it raised about $31.7 million (A$34.3 million) in a private placement. The placement was made with a group of “sophisticated, professional and accredited investors” located overseas. The investors were reported to be from Australia, Hong Kong, the U.K., and “certain other jurisdictions.” The article does not provide additional operating metrics, prior rounds, or detailed use of proceeds. GI Dynamics makes the EndoBarrier, an endoscopically delivered gastrointestinal liner designed to limit food intake by creating a barrier between consumed food and the intestinal wall to prevent absorption. The device is applied through the mouth into the small intestine. GI Dynamics has won regulatory approval for the device in Europe and plans to use new funding to push sales there. The company is Lexington, Mass.-based and was founded in 2003. Since its founding it has raised $75 million in total. CEO Stuart Randle is referenced in company statements about the funding.

Total raised

$50M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2013