This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

BAROnova® Secures $27.3M Investment To Fund Clinical Trial For Weight-loss Device

Stocks in this article: BSX

GOLETA, Calif., Feb. 15, 2013 /PRNewswire/ -- BAROnova, Inc., announced today the closing of its Series C financing of $27.3 million, led by investments from Sante Ventures and Boston Scientific Corporation (NYSE:BSX), a leading innovator of medical devices and technologies.  Participants included Series B investors ONSET Ventures, Highland Capital Partners and Arboretum Ventures, along with new investors Sante Ventures, Boston Scientific and Lumira Capital.  Proceeds will be used to fund a pivotal study of the TransPyloric Shuttle ® (TPS ®) weight-loss technology to gain US and European regulatory approvals.  Financial terms were not disclosed.

The TransPyloric Shuttle is an innovative mechanical device that is expected to slow the digestion process and create the sensation of fullness, which should slow or stop patients from overeating.  The device is placed into the stomach endoscopically through the mouth in an approximately 10-minute outpatient procedure, and may be removed as needed in a similar fashion and time frame.

"The TransPyloric Shuttle is a novel medical device with the potential to provide a minimally invasive, non-surgical and non-pharmaceutical treatment option for the millions of patients struggling with obesity," said Kevin M. Lalande, Managing Director, Sante Ventures.  "We look forward to supporting BAROnova in its effort to develop and commercialize this technology."

"This funding will provide BAROnova with the opportunity to finish development on a product that has clinically demonstrated surgical levels of weight loss without exposing patients to the anatomy alterations required of weight-loss surgery," said Hugh Narciso, Founder, President and CEO of BAROnova.  "Securing this financial investment is further validation of the TPS technology as an innovative minimally invasive approach to weight loss."  New Century Capital Partners, Inc., acted as the exclusive placement agent.

About BAROnova, Inc.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs