Vertex Growth posted on 25 Nov 2020
SINGAPORE – U.S. based EndoGastric Solutions® has received a significant round of funding from investors including Vertex Growth Fund, to further accelerate commercialization efforts in support of the growing market demand for its Transoral Incisionless Fundoplication (TIF® 2.0) procedure performed with the EsophyX® device.
The TIF 2.0 procedure is a minimally invasive endoscopic intervention performed with the EsophyX device, which enables anatomical correction of the gastroesophageal valve (GEV) without incisions or the complications typically associated with traditional anti-reflux surgical procedures. With more than 25,000 procedures performed worldwide, TIF 2.0 offers patients an alternative to long-term medicinal treatment or traditional more invasive surgical procedures while addressing the underlying anatomical cause of GERD (gastroesophageal reflux disease).
“We are excited to be a part of this exclusive group of investors to support EGS in its next phase of growth,” said Hock Chuan Tam, Managing Director of Vertex Growth Fund. “We see immense potential for this innovative solution to treat the millions of patients suffering from GERD in the US and other regions of the world.”
“Long-time sufferers of GERD are looking to improve their quality of life. A significant portion of these patients want options beyond medications for a variety of reasons, including a desire to fix the anatomical defects that many times are the root cause of GERD,“ said Skip Baldino, President and CEO of EndoGastric Solutions. “The TIF 2.0 procedure is a less invasive, safe and effective alternative to conventional anti-reflux surgery with fewer post-operative side effects.”
Gastroesophageal reflux disease (GERD) is a chronic condition in which the gastroesophageal valve (GEV) allows gastric contents to reflux (wash backwards) into the esophagus, causing heartburn and possible injury to the esophageal lining. Some patients may have mild or moderate symptoms of GERD, while others have more severe manifestations causing chronic heartburn, asthma, cough, and hoarse voice or chest pain. Left untreated, GERD can develop into a pre-cancerous condition called Barrett’s esophagus, which is a precursor for esophageal cancer.
Current treatment options include minor lifestyle changes (e.g., diet, scheduled eating times and sleeping positions), proton pump inhibitor (PPI) medications which have a variety of health complications associated with long-term dependency, traditional anti-reflux surgeries.
Global Impact of GERD
GERD is the most common gastrointestinal-related diagnosis that U.S. physicians make during clinical visits. According to the Cleveland Journal of Medicine, the 2015 direct economic impact of GERD in the U.S. was estimated at more than $18 billion as it affects nearly 20% of the population.
About EndoGastric Solutions Inc.
Based in Redmond, Washington, EndoGastric Solutions, Inc. (www.endogastricsolutions.com), is a medical device company developing and commercializing innovative, evidence-based, incisionless surgical technology for the treatment of GERD. EGS has combined the most advanced concepts in gastroenterology and surgery to develop products and procedures to treat gastrointestinal diseases, including the TIF 2.0 procedure—a minimally invasive solution that addresses a significant unmet clinical need.
About Vertex Growth
Vertex Growth is dedicated to partnering with exceptional entrepreneurs and promising companies on the cusp of growth. The firm provides expansion capital to realize the companies’ vision of creating a category champion that is enduring and transformational. Part of the Vertex global network of venture capital funds, Vertex Growth can leverage on a broad view of innovation across the world and capture significant value arising from the Vertex eco-system of portfolio companies, partners and investors. For more information about Vertex Growth, please visit https://vertexgrowth.com.
The EsophyX device, with SerosaFuse® fasteners and accessories, is indicated for use in transoral tissue approximation, full thickness plication and ligation in the gastrointestinal tract. It is indicated for the treatment of symptomatic chronic GERD in patients who require and respond to pharmacological therapy. The device is also indicated to narrow the gastroesophageal junction and reduce hiatal hernia ≤ 2 cm in size in patients with symptomatic chronic GERD. Patients with hiatal hernias larger than 2 cm may be included, when a laparoscopic hiatal hernia repair reduces the hernia to 2 cm or less.
U.S. based EndoGastric Solutions® has received a significant round of funding from investors including Vertex Growth Fund, to further accelerate commercialization efforts in support of the growing market demand for its Transoral Incisionless Fundoplication (TIF® 2.0) procedure performed with the EsophyX® device.
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