US firm Mederi Therapeutics bags $18.5M in Series B for GERD and bowel incontinence treatment
Mederi Therapeutics has secured $18.5 million in a Series B funding round. Mederi is a firm that markets medical devices for the treatment of gastrointestinal reflux disease (GERD) and fecal incontinence, according to Medical Device and Diagnostic Industry (MDDI).
The money raised is a mixture of venture debt and equity. The Greenwich, Connecticut company will use the new capital to accelerate the sales and marketing activities for its flagship products, according to a company spokeswoman. Mederi markets the radiofrequency-powered Stretta and Secca therapies to treat GERD and bowel incontinence respectively, the report explained.
Acadia Woods Partners and Respiratory Diagnostics Inc, a Bio-Rad Laboratories Inc subsidiary, led the Series B round. Angel investors also participated in the said round. The venture debt was provided by Horizon Technology, the report detailed.
The company's Stretta and Secca therapies are made for patients who are not responsive to medication and want to undergo an alternative process in lieu of invasive surgery. These therapies are delivered on an outpatient basis, MDDI reported.