GT Metabolic Solutions has secured a Series C growth investment from J.P. Morgan Life Sciences Private Capital to accelerate commercialization of its magnetic anastomosis technology.
The financing will support the company’s global commercial launch and expansion into additional surgical and therapeutic applications, including endoscopic and colorectal procedures.
GT Metabolic develops a linear magnetic anastomosis system that creates gastrointestinal connections without incisions, sutures, or staples.
The technology uses magnetic compression to create anastomoses while avoiding permanent foreign material that could interfere with healing.
The system can be used with endoscopic, robotic, or laparoscopic surgical approaches.
GT Metabolic said gastrointestinal anastomotic procedures can result in serious complications such as leaks and bleeding, which can lead to sepsis, hospital readmission, and death.
The company’s magnetic platform is designed to create seamless connections while preserving natural biology and potentially reducing complication rates.
GT Metabolic was the first company to receive both an FDA De Novo grant and 510(k) clearance for magnetic technology used to create compression anastomoses.
The J.P. Morgan financing represents the company’s first institutional financing partnership.
GT Metabolic plans to use the proceeds for product development, surgeon training, worldwide commercial expansion, and development of additional indications.
The company has locations in Minneapolis, San Jose, and Montréal.
J.P. Morgan Life Sciences Private Capital focuses on early-stage biotechnology and later-stage healthcare companies, including medical devices, pharmaceutical services, biopharma, tools, and diagnostics.
The investment represents the fifth transaction completed by the J.P. Morgan Life Sciences Private Capital team.
KEY QUOTES:
“The use of magnets in surgery is a game-changing technology to address serious adverse events, such as leaks and bleeding, which have troubled surgeons since the advent of minimally invasive surgery over 50 years ago.”
Joe Siletto, Managing Partner At J.P. Morgan Life Sciences Private Capital
“J.P. Morgan Life Sciences Private Capital’s growth investment will help accelerate both product development, surgeon trainings and worldwide commercial expansion.”
Thierry Thaure, Co-Founder And CEO Of GT Metabolic Solutions
“We are proud to partner with GT Metabolic as it works to transform minimally invasive surgical care.”
Anthony Perry, Vice President At J.P. Morgan Life Sciences Private Capital
