GI Windows Surgical secured $37 million in additional funding to support its Flexagon self-forming magnet. Westwood, Massachusetts-based GI Windows plans to use the funds to support the continued clinical development and planned commercialization of Flexagon and delivery systems. It designed its technology to employ magnetic anastomosis to enable less invasive surgery.
GI Windows aims to develop the first fundamental breakthrough in anastomoses technology in both delivery and tissue fusion.
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Orlando Health Ventures led the most recent financing round. Rex Health Ventures also joined in, while participating investors took part as well. Those include Johnson & Johnson Innovation-JJDC, JCInvestco and Dr. Fred Moll, a pioneer in surgical robotics. GI Windows reports an additional strategic investor participating, too.
Yuriy Onyskiv of Orlando Health Ventures said in a news release that the venture firm “saw this as a great opportunity to partner with a strong leadership team and an exciting technology to reshape the future of surgical procedures and bring tangible benefits to the healthcare system.”
“I am pleased to see providers joining leading medtech companies to invest in the future of healthcare” said Brian Tinkham, CEO of GI Windows Surgical. “We believe our team will revolutionize the surgical landscape, with the proceeds of this financing targeting enrollment of an FDA IDE clinical trial and commercial launch in the U.S. in 2025”.
