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EnteroMedics' Weighty Financing for Obesity

EnteroMedics recently earned the distinction of closing the second-largest financing for a private medical device company in 2006. Its success was undoubtedly due to the company's attractive position at the junction of two of the device industry's hottest markets: obesity and neuromodulation. EnteroMedics is developing an implantable impulse generator that it hopes will address multiple mechanisms in obesity.

EnteroMedics Inc. recently earned the distinction of closing the second-largest financing for a private medical device company in 2006. [See Deal] (Diabetes device company Insulet Corp. holds the top spot with a $50 million February round.) [See Deal] The success of EnteroMedics’ $45.2 million Series C round—in which venture firms InterWest Partners, Onset Ventures, Pacific Asset Partners, MPM Capital, Bay City Capital, Aberdare Ventures, Charter Life Sciences and development partner Mayo Foundation for Medical Education Research (a division of Mayo Clinic College of Medicine ) participated—was undoubtedly due to the company’s attractive position at the junction of two of the device industry’s hottest markets: obesity and neuromodulation. EnteroMedics is developing an implantable impulse generator that it hopes will address multiple mechanisms in obesity.

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