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iNovia Capital invests in BaroSense

iNovia Capital, a Montreal-based manager of venture capital funds, has invested in BaroSense as part of the company’s series B financing round.

 

BaroSense is a privately-held medical device company specialising in the minimally invasive treatment of obesity.

There are over 400 million people worldwide considered as obese. Despite proven clinical benefits of surgical weight reduction procedures, including bariatric surgery, it is estimated that less than one per cent of the population eligible for these procedures actually goes for surgery.

"There is an important unmet medical need considering the potential long term impact of obesity on patients’ health and on the overall cost to healthcare systems," says Etienne Lagace from iNovia Capital. "Effective and minimally invasive interventions that are reversible and do not affect patients’ anatomy should be viewed very positively by patients and their caretakers, especially if they can also reduce the complications associated with bariatric surgery."

"We are pleased to have iNovia participate in this round of financing," adds Daniel Balbierz, president and chief executive of BaroSense. "This round should allow the company to complete US clinical trials and obtain regulatory approval to commercialise its lead product."

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