USGI Medical Closes $19.5 Million Equity and Debt Financing

SAN CLEMENTE, Calif., Jan. 26, 2015 /PRNewswire/ — USGI Medical®, Inc., a company pioneering incisionless procedures for weight loss, announced the closing of over $19.5 million in financing, bringing the total raised in the last year to $36 million in equity and debt.

This funding provides USGI with the capital resources to extend the commercial launch of POSE™ (Primary Obesity Surgery, Endolumenal) in Europe and the Middle East and begin pre-commercialization activities for the procedure in the U.S., as the company completes the follow-up phase of its U.S. pivotal study known as ESSENTIAL™, and prepares to submit an application to FDA for approval. This money will also fund the crossover study as part of the ESSENTIAL trial, health economics research and several important studies in Europe.

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