GT Metabolic Solutions received an undisclosed Series C growth investment from J.P. Morgan Life Sciences Private Capital. The medical device company develops magnetic products for gastrointestinal anastomoses. Its technology uses compression to connect intestinal structures without sutures or staples.
Use of proceeds
The financing will support the company's global commercial launch. It will also fund expansion into endoscopic and colorectal surgery. Additional indications are planned after that.
Company context
GT Metabolic has offices in Minneapolis, San Jose, and Montreal. It is the first company to receive FDA De Novo grant and 510(k) clearance for magnetic compression anastomosis technology. The company reports reliable anastomosis creation and low complication rates.
How the device works
The linear magnetic system creates intestinal connections without incisions, sutures, or staples. It leaves no foreign material in the body and supports normal healing. Surgeons can use it with endoscopic, robotic, or laparoscopic access.
GT Metabolic plans to expand into colorectal surgery and other indications. Surgeon training and product development will also accelerate. The investment is the company's first institutional financing partnership.