TLDR:
- Endogenex, a medical device company, raised $88M in Series C funding.
- The funding will be used to complete a pivotal clinical study for a new treatment for type 2 diabetes.
Endogenex, a Minneapolis-based medical device company, recently secured $88M in Series C funding. The funding round was backed by several investors, including Hatteras Venture Partners, Lumira Ventures, and Mayo Clinic. The company plans to use the funds to complete the pivotal ReCET Clinical Study, which has received FDA approval.
The ReCET System developed by Endogenex aims to reset the body’s metabolic signaling system to improve metabolic function in individuals with type 2 diabetes (T2D). By harnessing the body’s natural regenerative capabilities, the company seeks to offer a groundbreaking solution for T2D patients. Endogenex’s CEO, Stacey Pugh, expressed excitement about bringing this innovative treatment option closer to reality, especially in the face of the evolving therapeutic landscape for diabetes.
Through the use of precise, controlled, non-thermal pulsed electric fields, Endogenex is working on improving T2D therapy to help patients better manage their blood glucose levels and slow down disease progression. This innovative approach to diabetes treatment highlights the company’s commitment to addressing the underlying pathophysiology and progression of the disease.
The funding round signals a significant milestone for Endogenex, marking a step forward in the development of new treatment options for individuals living with T2D. With the completion of the pivotal clinical study on the horizon, the company is inching closer to offering a potentially game-changing solution for patients in need.
