Led · Equity · Jul 2018

EndoGastric Solutions is a Redmond, Washington–based medical device company focused on incisionless surgical technologies for GERD, notably the EsophyX device and the TIF 2.0 procedure. The company positions TIF 2.0 as a safe and effective alternative to surgery, citing more than 140 peer‑reviewed publications and outcomes showing many patients can eliminate daily medications for up to five years. Over 35,000 TIF 2.0 procedures have been performed worldwide, and EGS emphasizes an exemplary safety profile. EGS closed an $18M financing to further drive growth and broaden commercialization of the TIF 2.0 procedure. The financing announcement coincided with a leadership transition: Darin Hammers was appointed President and CEO, replacing Skip Baldino, who will remain a strategic advisor. Management says the new capital will provide added fuel to accelerate the company’s commercial evolution and adoption among physician partners and patients. EndoGastric Solutions develops a minimally invasive treatment for gastroesophageal reflux disease (GERD) using its TIF 2.0 procedure and a proprietary device that corrects the root cause of reflux without surgery. The company reports having performed the procedure on 22,000 patients to date. It aims to expand the reach of its non‑surgical option to capture a larger portion of the GERD market. Financially, EndoGastric recently closed a $45M Series I financing and has raised about $251M since launching in 2003. Company leadership says the new capital establishes a strong financial foundation to pursue significant growth and long‑term commercial viability. EndoGastric Solutions develops and commercializes innovative, evidence-based, incisionless procedural therapy for gastroesophageal reflux disease (GERD). Its core offering is the TIF® procedure, which the company is commercializing to physician customers. The company plans to use new financing to continue commercial expansion of the TIF® procedure and to support its physician customer base. It also intends to invest in sustaining engineering initiatives aimed at optimizing gross margin. The company is led by President and CEO Skip Baldino. GERD is a chronic condition in which the gastroesophageal valve allows gastric contents to reflux into the esophagus, causing heartburn and potential injury to the esophageal lining. EndoGastric Solutions (EGS) is a Redmond, Washington–based medical device company focused on incisionless treatment of GERD via its Transoral Incisionless Fundoplication (TIF) procedure and EsophyX devices. The company markets EsophyX technology—cleared by the FDA in 2007 and updated with the EsophyX Z in 2015—to reconstruct the gastroesophageal valve and reduce reflux. EGS reports more than 17,000 TIF patients treated worldwide since clearance and cites over 50 peer‑review papers documenting outcomes on more than 800 unique study patients. Recent changes in coding and payment—CPT Code 43210 and APC 5331 for TIF procedures effective January 1, 2016—aim to improve patient access and reimbursement. EGS says it will use new financing to begin broad‑scale commercialization and to fund R&D on next‑generation products used in the TIF procedure. The company positions TIF as a minimally invasive alternative that can reduce long‑term PPI use for chronic GERD sufferers. EndoGastric Solutions develops products and procedures that combine gastroenterology and surgery to address unmet needs in gastrointestinal diseases. Its core product, the EsophyX device, was FDA cleared in 2007 and is commercially available in the United States. The EsophyX device is inserted transorally with visual guidance from an endoscope and is used in the TIF procedure to reconstruct the gastroesophageal valve, restoring its competency and reestablishing the barrier to reflux. The company, led by President and CEO Skip Baldino, intends to use newly raised funds to support publishing data from three randomized trials, bring new products to market, and establish clear reimbursement for its technology. Financially, the company completed a $30M Series G financing to support these plans. The article does not disclose operating metrics such as revenue or user counts.

Led · Equity · Apr 2014

2Checkout provides payments-as-a-service that localizes the checkout experience by optimizing language, currency and payment methods for each buyer. The service supports one-time and recurring billing across 196 countries, 26 currencies, 15 languages and eight payment methods and is PCI Level 1 compliant. It routes transactions through a proprietary fraud review to protect retailers and customers. 2Checkout offers a hosted solution or API with a pre-integrated gateway, merchant account and automatic PCI compliance, and claims very fast implementation times. The company has bootstrapped its way to profitable growth and says it serves more than 22,000 merchants worldwide. The announced growth capital will be used to accelerate expansion of its global payments processing platform and scale into additional international markets.

Participated · Series C · May 2013

Lanx is a Broomfield, CO-based global spine company that develops and commercializes a line of fusion devices and minimally invasive technologies. The company closed a $15M Series C equity financing to support growth. It plans to use the funds to increase its sales and marketing infrastructure and to expand its product suite across both minimally invasive and core spinal fusion. Led by CEO Dan Gladney, Lanx’s platform includes minimally invasive technologies and a range of fusion solutions. Product examples cited include the TIMBERLINE™ Lateral Fusion System and the ASPEN® MIS Fusion System. Lanx distributes its portfolio throughout the U.S., Mexico and Europe via a network of direct sales representatives and exclusive distributor partners.

Participated · Equity · Jul 2010

Zogenix is a pharmaceutical company based in Emeryville and San Diego with an FDA‑approved needle‑free delivery product, SUMAVEL™ DosePro™ (sumatriptan injection). The company is preparing for the commercial launch of SUMAVEL DosePro. It is also conducting a Phase 3 clinical development program of ZX002, an oral controlled‑release formulation of hydrocodone without acetaminophen for chronic pain. The recent financings are intended to support the SUMAVEL commercial launch and the ongoing Phase 3 program for ZX002. Proceeds will also be used to fully repay the outstanding balance of an existing term loan. Zogenix plans to license the patented DosePro needle‑free drug delivery system to other companies. Zogenix is an Emeryville and San Diego, CA-based pharmaceutical company focused on commercializing its SUMAVEL DosePro needle-free delivery system, the company’s first product. The company closed an increased Series B preferred stock financing to fund its near-term commercialization plans. The Series B was increased from $51M to $71M with a $35M second tranche recently closed. Existing investors including Clarus Ventures, Domain Associates, Scale Venture Partners, Thomas, McNerney & Partners and Abingworth Management participated, alongside new investor Oxford Finance Corporation and an additional $20M from Chicago Growth Partners. Chicago Growth Partners will take a board seat and be represented by Dr. Arda Minocherhomjee. The funds will be used to support the planned January 2010 launch of SUMAVEL DosePro. Zogenix focuses on developing and commercializing medicines to treat neuroscience disorders and pain. The company’s first product, SUMAVEL DosePro (a needle-free sumatriptan injection), recently received FDA approval. The $51M Series B preferred stock financing will fund the product's launch and commercial build-out. Zogenix plans to build a commercial organization of over 105 people to support the launch. The company has offices in Emeryville and San Diego, California. The financing comprises a first tranche and a callable remainder as detailed in the deal. Zogenix is a San Diego-based specialty pharmaceutical developer working on treatments for central nervous system (CNS) disorders and pain. It is developing two products, with its first product targeted at treating acute migraine. The company said it has raised an $18M secured loan facility to support preparation for that product's launch. The debt financing was provided by Oxford Finance Corporation and CIT Healthcare LLC. Zogenix has previously raised equity capital from investors including Abingworth Management, Clarus Ventures, Domain Associates, Life Science Angels, Scale Venture Partners, and Thomas, McNerney & Partners. The new funding is intended to help advance launch preparations for its lead program. Zogenix is a San Diego-based company that acquired a subcutaneous delivery platform to pursue migraine treatment development. The firm purchased Aradigm Corporation's Intraject subcutaneous delivery technology. Zogenix plans to develop and commercialize the acquired product. The company raised $60M in a Series A financing to fund the acquisition and subsequent development. Investors in the round include Clarus Ventures and Domain Associates, with participation from BA Venture Partners, Thomas, McNerney & Partners and Life Science Angels. No operating metrics or prior funding details are provided in the article.