Neuromodulator Innovative Metabolics picks up $5.5M
Innovative Metabolics, a Boston developer of neuromodulation systems for “chronic disease,” raised $5.5 million in a first funding round, VentureWire reports (subscription required). The round was led by Morgenthaler Ventures, which was joined by Foundation Medical Partners.
Although the company apparently still wants to keep a low profile, it’s not too hard to make an educated guess at what it might be up to. In January, Innovative Metabolics paid $500,000 and an unspecified number of preferred… Continue Reading
EnteroMedics plans $86M IPO for obesity-control implants
EnteroMedics, a St. Paul, Minn., developer of obesity-treatment implants, filed to raise up to $86.25 million in an IPO. Its S-1 filing with the SEC is here.
The company is developing a neuromodulation implant called VBLOC that is designed to intermittently disrupt signals sent along the vagus nerve, which regulates many functions of the stomach, intestines and pancreas. Ideally, the implanted device will limit stomach expansion, reduce the frequency and strength of stomach contractions, and induce… Continue Reading