Ceros Financial Services’ investment banking division, Ceros Capital Markets, has completed an approximately $15 million Series A round for GT Metabolic Solutions, which has developed minimally-invasive incisionless bypass technology for bariatric, metabolic and digestive surgery.
The company will use the funding to complete initial clinical trials for its incisionless Duodenal Ilial Bypass anastomosis for bariatric and metabolic surgery.
GT Metabolic’s technology enables incisionless bariatric surgery and involves no cutting, no suturing and no permanent implant, enabling these procedures to move to the outpatient surgical setting. The platform works by creating a delayed anastamosis, a technique that involves the use of magnets to connect the tissue and create an anastomosis in a delayed manner without incision and the risk of creating a leak.
Ceros focuses on fundraising for early-stage medical technology and medical device companies that are developing disruptive technologies, particularly for diagnostic and non-invasive procedures. Ceros completed $117 million in transactions in the medtech sector in 2021 and $145 million since 2020. The firm is targeting to raise $150 million this year, Goldwasser said.
In June, Ceros and Peregrine Ventures led an $18 million financing round for Cordio Medical, which has developed technology to monitor chronic heart failure conditions by analysing voice recordings in a simple smartphone app.
Ceros also recently placed an additional $10 million for DemaSensor, which designs non-invasive tools that use machine learning and spectroscopy to evaluate skin lesions for cancer. Ceros was an existing investor in the company. Earlier this year, the firm announced a $15 million placement for Pristine Surgical, which has developed a single-use platform for endoscopic procedures.
