Endogastric Solutions, a medical device company with offices in Redmond and the Bay Area, has raised $7.5 million in new funding from existing investors. The company will use the money for "continued commercialization of our products" for treatment of chronic acid reflux, said spokesman Chip Hennen.
Hennen did not provide information on which investors took part in the new funding. Since 2003, Endogastric has raised a total of $79 million from an investor group that includes Advanced Technology Ventures, Chicago Growth Partners, Foundation Medical Partners, MPM Capital, Oakwood Medical Investors, and De Novo Ventures. The company's last funding came in August 2007, when it raised $30 million.
Endogastric Solutions came out of the MPM Capital incubator, Scout Technologies, in 2003, and was originally called EsophyX. It changed its name to Endogastric Solutions in 2005. The company's CEO is Thierry Thaure. The company's two products are called EsophyX and StomaphyX.
Endogastric was founded in Redmond but moved its corporate offices to Redwood City, Calif., about a year ago, Hennen said. The company maintains manufacturing, research and development, customer support, and training facilities in Redmond. Hennen did not immediately provide the company headcount.
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