Key Takeaways
- • GT Metabolic Solutions, Inc. announced a Series C growth investment led by J.P. Morgan Life Sciences Private Capital, with proceeds earmarked for its ongoing global commercial launch and expansion into new surgical settings.
- • The company's linear magnetic anastomosis system holds FDA De Novo grant and 510(k) clearance, and is positioned as incisionless, sutureless, staple-free and reversible.
- • Up to 18% of GI anastomotic procedures result in life-threatening complications such as leaks and bleeding, according to the company, which the device aims to reduce.
- • The investment is GT Metabolic's first institutional financing partnership and the fifth investment by the J.P. Morgan Life Sciences Private Capital team.
- • Endoscopic and colorectal surgery are the next targeted indications, with additional indications to follow.
Summary
GT Metabolic Solutions, Inc., a Minneapolis-based medical device company, announced a Series C growth investment from J.P. Morgan Life Sciences Private Capital, according to a Business Wire release. The company did not disclose the size of the investment in the release. Proceeds will support its ongoing global commercial launch and fund expansion into new surgical and therapeutic settings, with endoscopic and colorectal surgery named as the next areas of focus and additional indications to follow.
GT Metabolic describes itself as the first company to receive FDA De Novo grant and 510(k) clearance for the use of magnetic technology to create compression anastomoses, which are connections between two tubular structures in the body, such as the intestines. Its linear magnetic anastomosis system is described as incisionless, sutureless, staple-free and reversible, leaving no foreign material that could impede healing. The device can be used regardless of surgical access, whether endoscopic, robotic or laparoscopic. The company states that up to 18% of GI anastomotic procedures result in life-threatening complications such as leaks and bleeding, which can lead to sepsis, readmission and death.
Joe Siletto, Managing Partner at J.P. Morgan Life Sciences Private Capital, said magnets could address serious adverse events that have troubled surgeons since the advent of minimally invasive surgery. He highlighted the work of co-founder and CMO Dr. Michel Gagner over the past 20 years. Thierry Thaure, co-founder and CEO of GT Metabolic, said the investment will help accelerate product development, surgeon training and worldwide commercial expansion. Anthony Perry, Vice President at J.P. Morgan Life Sciences Private Capital, cited authorizations for anastomosis procedures across the U.S., Europe, South America and other regions.
The transaction is GT Metabolic's first institutional financing partnership and the fifth investment by the J.P. Morgan Life Sciences Private Capital team. The company has locations in Minneapolis, San Jose and Montréal.
GT Metabolic describes itself as the first company to receive FDA De Novo grant and 510(k) clearance for the use of magnetic technology to create compression anastomoses, which are connections between two tubular structures in the body, such as the intestines. Its linear magnetic anastomosis system is described as incisionless, sutureless, staple-free and reversible, leaving no foreign material that could impede healing. The device can be used regardless of surgical access, whether endoscopic, robotic or laparoscopic. The company states that up to 18% of GI anastomotic procedures result in life-threatening complications such as leaks and bleeding, which can lead to sepsis, readmission and death.
Joe Siletto, Managing Partner at J.P. Morgan Life Sciences Private Capital, said magnets could address serious adverse events that have troubled surgeons since the advent of minimally invasive surgery. He highlighted the work of co-founder and CMO Dr. Michel Gagner over the past 20 years. Thierry Thaure, co-founder and CEO of GT Metabolic, said the investment will help accelerate product development, surgeon training and worldwide commercial expansion. Anthony Perry, Vice President at J.P. Morgan Life Sciences Private Capital, cited authorizations for anastomosis procedures across the U.S., Europe, South America and other regions.
The transaction is GT Metabolic's first institutional financing partnership and the fifth investment by the J.P. Morgan Life Sciences Private Capital team. The company has locations in Minneapolis, San Jose and Montréal.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.