By Lisa Kerner
Charlotte, N.C., July 19 - EnteroMedics Inc. closed a $45.2 million round of series C financing.
The company's VBLOC (Vagal BLocking for Obesity Control) Therapy is under clinical investigation for its potential to regulate multiple functions involved in the ingestion and digestion of food and calorie uptake.
Proceeds will be used to continue the development of its VBLOC Therapy including clinical studies and for commercialization.
InterWest Partners led the round, with additional investments from Onset Ventures, Pacific Asset Partners and the Mayo Foundation for Medical Education and Research. All existing investors participated in the round including MPM Capital, Bay City Capital, Aberdare Ventures and Charter Life Sciences.
St. Paul, Minn.-based EnteroMedics develops implantable systems for the treatment of obesity and other gastrointestinal disorders.
| Issuer: | EnteroMedics Inc.
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| Issue: | Series C financing
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| Amount: | $45.2 million
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| Investors: | InterWest Partners (lead), Onset Ventures, Pacific Asset Partners, the Mayo Foundation for Medical Education and Research, MPM Capital, Bay City Capital, Aberdare Ventures, Charter Life Sciences
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| Announcement date: | July 19
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