January 19, 2021
Endo Tools Therapeutics notes the funding will be used to submit a regulatory marketing submission for its medical devices to the Food and Drug Administration in the US for soft tissue approximation.
Endo Tools Therapeutics also intends to seek further reimbursement within the EU. Lastly, the funding will help to continue R&D efforts into new products and indications, collate evidence on device capabilities, develop a network of centers of excellence and grow and strengthen the organization.
The funding was led by the White Fund. The transaction is supported by new private investors and the existing investors (FPIM-SFPI, Epimède, Chagral Invest, and private investors).
“With the device’s clinical performance – as outlined in published results by users in the EU over the last few years – we believe that our technology ideally fits patients’ treatment pathways. Endo Tools Therapeutics affixed the CE mark to its first medical devices in the EU in 2015. Future FDA clearance will enable us to expand our coverage into the US market and seek wider adoption by healthcare professionals,” said Alexandre Chau, CEO of Endo Tools Therapeutics.
Michel Baijot, chairman of White Fund, commented: “We are very pleased to lead this financing round involving other private and public partners and to count Endo Tools Therapeutics as a White Fund investment. Endo Tools Therapeutics’ innovative technology could lead to changes in clinical practice. We believe that with the product in development, the impact on patients, the team in place and the market, this will translate into substantial economic value.”