BAROnova pulls in funds for weight-loss tech
Medical technology company BAROnova announced today that it brought in $7.5 million in a second round of funding led by pharmaceutical firm Allergan. It plans to use the money to continue developing a weight loss device called the TransPyloric Shuttle.
Basically, the shuttle is installed at the pylorus, the opening of the small intestine located at the bottom of the stomach (it’s inserted endoscopically). The goal of the mechanism is to cause users to feel full for longer, eliminating hunger impulses. The company says this weight loss method is much safer than gastric bypass or other surgeries that aim at the same results.
Goleta, Calif.-based Baronova raised $6.5 million in 2006 from Highland Capital Partners, Onset Ventures and Arboretum Ventures, which also contributed to this recent round.
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