Barosense, creator of a minimally-invasive device that can treat obesity, has announced its intent to raise $30 million in a fourth round of funding to commercialize its product. Already many of its existing investors have pledged to provide half that amount, including Delphi Ventures, Frazier Healthcare Ventures, Invesco Private Capital, RWI Ventures, Synergy Life Science Partners and Wharton Ventures.
Based in Menlo Park, Calif., Barosense says it expects to close this round by the end of June. It finished off its product development earlier this year, with help from an $11 million round of capital raised in 2007. The company plans to have it on the market by 2010.