Satiety secures $7.5M bridge for tummy tuck shortcut
Satiety, maker of a minimally-invasive device that shrinks stomach capacity via the mouth, has landed a $7.5 million bridge loan from its existing investors — a group that includes Skyline Ventures, HLM Venture Partners, Pinnacle Ventures, Morgenthaler Ventures, Three Arch Partners, Venrock and medical inventor Thomas Fogarty, reports VentureWire.
Based in Palo Alto, Calif., the company is still developing its lead product, called the TOGA System, which makes users feel sufficiently full after eating very little. It’s basically a stapling tool that can be passed down the throat into the stomach cavity. It has received approval in Europe but isn’t currently on the market.
Satiety last raised funding in 2007, bringing in $30 million in a fourth round of funding.
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