Gosselies, Belgium, February 11, 2019 – Endo Tools Therapeutics (ETT), a company that develops advanced endoscopic medical devices for gastroenterologists, announces today the closing of a Series C funding round of €5 million ($5.7M), led by Epimède and existing investors (FPIM-SFPI, Chagral Invest and individuals). ETT also welcomes two new members to the board: seasoned medical device expert Denis Gestin as new chairman and Philippe Degeer, co-founder of Epimède.
Endo Tools Therapeutics will use the proceeds to collect further evidence on the capabilities of its devices as well as to train new users, to improve recognition of the devices and to further develop the company’s main platform, Endomina.
Endomina is an innovative CE-marked triangulation platform, which adds degrees of freedom and a number of therapeutic channels to existing endoscopes. This enables gastroenterologists and surgeons to perform complex movements and to use multiple instruments during surgery. It also gives them the freedom to perform manipulations which were previously possible only via laparoscopic access. ETT’s devices offer new, minimally invasive possibilities for advances in flexible endoscopy. They can be used in a variety of procedures in the digestive tract, such as bariatric interventions. The Endomina platform has already been used in more than 230 interventions.
For the patient, minimally invasive treatments mean shorter hospital stays, improved comfort and reduced complication rates. For hospitals and healthcare systems, they can reduce the overall cost of interventions.
“With technical and regulatory challenges behind us, these funds will allow Endo Tools Therapeutics to achieve further proof of efficacy of treatments performed with our devices, as well as wider adoption,” said Alexandre Chau, CEO of Endo Tools Therapeutics.
Philippe Degeer, co-founder of Epimède, an investment fund targeting small to
medium-sized companies with strong growth potential in the healthcare sector, said: “We believe ETT is uniquely positioned to change gastroenterology practice and address unmet clinical needs. We are proud and excited to be part of this journey and are very confident of the team’s ability to deliver results.”
Chau also said he is delighted to announce that medical device expert Denis Gestin has joined ETT’s board of directors as its new chairman, where “he will support us with his broad perspective on the medical devices industry.”
ETT is also pleased to welcome Philippe Degeer from Epimède to its board of directors.
Denis Gestin, whose expertise is recognized worldwide, has over 30 years of experience in the management and commercial development of medical technology companies. He worked as senior vice president of global commercial integration at Abbott Laboratories. Previously, Gestin worked for more than 20 years at St. Jude Medical, where he held various executive positions in Europe, the Middle East, Africa, Canada and, more recently, as president of the international division (OUS) until 2017. Denis Gestin graduated from EDC Paris Business School.
Philippe Degeer first worked for an SME in Liège, Belgium, and then developed his career within the American multinational company Goodyear Dunlop. After becoming vice president of the group in Europe, Africa and the Middle East, he drove the implementation of innovation processes and international development policies as well as B2B and B2C marketing strategies. He focused the company’s attention on organization capability building and participated in the development of various partnerships, mergers, acquisitions and technology transfers.
Philippe Degeer is chairman of the board of directors of AMOS and is a board member of Diagenode, EyeDPharma and Lasea. He holds an MBA from the London Business School.
Epimède SA is an investment fund targeting small to medium sized companies with strong growth potential in the technology sector. Epimède S.A. manages a Belgian private equity fund (PRICAF) for a dozen investments.
About Endo Tools Therapeutics
Located in Gosselies, Belgium, Endo Tools Therapeutics S.A. (ETT) develops a portfolio of advanced, minimally invasive medical devices for gastroenterologists. Its platform currently targets flexible endoscopic suturing and tissue apposition, which can be used in a variety of procedures in the digestive tract such as bariatric interventions. Other potential uses include procedures where full thickness tissue apposition is required, e.g. Gastroesophageal Reflux Disease (GERD), Endoscopic Full Thickness Resection (EFTR), diverticulum treatment.
Minimally invasive treatments can reduce complication rates and hospitalization duration, improving patient comfort.
ETT is a spin-off from the Université Libre de Bruxelles. It obtained the CE mark for its devices in 2015. First results of bariatric procedures performed with its tissue apposition devices were published in GIE in 2017 and in Endoscopy in 2018.