GI Dynamics, a leader in non-surgical treatments for type 2 diabetes and obesity, today announced that it has received a strategic investment from Medtronic, Inc. (NYSE: MDT), the global leader in medical device technology and therapies designed to treat chronic diseases.
Proceeds from this financing will be used to advance the clinical development and European commercialization of GI Dynamics’ EndoBarrier™ Gastrointestinal Liner for the treatment of metabolic disorders. The EndoBarrier has achieved CE mark status for the treatment of type 2 diabetes and obesity.
“Attracting capital from a leading company in the diabetes space is further testament to the significant potential of the EndoBarrier™ Gastrointestinal Liner to treat metabolic disorders”
“Attracting capital from a leading company in the diabetes space is further testament to the significant potential of the EndoBarrier™ Gastrointestinal Liner to treat metabolic disorders,” said Stuart A. Randle, chief executive officer of GI Dynamics. “This financing further augments our balance sheet and puts us in an excellent position to execute on our strategies.”
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