By Elaine Rigoli
Tampa, Fla., July 20 - Barrx Medical, Inc. has closed a $27.8 million series C capital investment round.
Montagu Newhall Associates led the financing, which was joined by existing investors Delphi Ventures, Alloy Ventures, Frazier Healthcare Ventures, Sutter Hill Ventures and others.
"This funding will help Barrx Medical respond to increasing demand from physicians and medical centers for the HALO360 and the HALO90 systems. Additionally, it will allow us to establish internal manufacturing operations and facilitate clinical trials investigating expanded use of the HALO system," president and chief executive officer Greg Barrett said in a news release.
The HALO360 system provides uniform, controlled ablative therapy at a consistent depth to remove diseased esophageal tissue, allowing replacement by normal cells, officials noted.
Based in Sunnyvale, Calif., Barrx develops treatment solutions for Barrett's esophagus, a precancerous condition of the lining of the esophagus caused by gastroesophageal reflux disease, or GERD.
| Issuer: | Barrx Medical, Inc.
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| Issue: | Series C financing
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| Amount: | $27.8 million
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| Investors: | Montagu Newhall Associates, Delphi Ventures, Alloy Ventures, Frazier Healthcare Ventures, Sutter Hill Ventures and others
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| Announcement date: | July 20
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