1. Medtech Insight
  2. >>Business
  3. >>Deals

GI Dynamics Goes Down Under To Fund First Endoscopic Treatment For Diabetes

The Massachusetts-based developer of the EndoBarrier device is leveraging its presence on the Australian stock exchange to finance its drug-like clinical development changes.

Developing a first-of-its-kind product puts a company in a class of risk that few U.S. public investors or venture capitalists are prepared to bear these days. But Lexington, Mass.-headquartered GI Dynamics Inc., which is developing EndoBarrier as the first endoscopic device treatment for diabetes, was fortunate enough to be able to call on a group of international investors. In July, the company raised 57.5 million Australian dollars ($53.2 million) from undisclosed investors in countries including Australia, Hong Kong, Singapore, the U.K. and the U.S. [See Deal].

Previously, GI Dynamics raised $AU80 million when it went public on the Australian stock exchange in August 2011. The funds are needed to provide the significant development resources needed to...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Medtech Insight for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Deals

23andMe Purchase Will Let Regeneron Scale Drug Development

 
• By Alaric DeArment

The consumer genomics firm will operate as a subsidiary, while Regeneron plans to leverage its database for drug discovery and trial design efforts.

Deals Shaping The Medtech And Diagnostics Industries, March 2025

 
• By Medtech Insight Team

An interactive look at medtech and diagnostics deals made during March 2025. Data courtesy of Biomedtracker.

Roar Of Eargo-hearX Merger Echoes Through US OTC Hearing Aid Market

 
• By Malcolm Spicer

The firms recently announced they will operate as combined company LXE Hearing marketing Eargo’s namesake line and hearX’s Lexie brands. Eargo majority owner Patient Square Capital added $100m to its investment.

Anglonordic 25: Women’s Health Needs Therapeutic Success To Encourage Wider Investment

 
• By Natasha Barrow

Health tech is at the forefront of the women's health sector, securing 38% of venture capital in 2024. However, panelists at the Anglonordic Life Science Conference held 3 April asserted that a successful therapeutic breakthrough is key to gaining investor confidence and accelerating venture capital.

More from Business

Medtronic Eyes Up to $350M Tariff Hit in FY26, Leans On Cost Controls And Pricing Strategy

 
• By Shubham Singh

Medtronic expects operating profit to grow approximately 7% in fiscal 2026, excluding tariff impacts. If tariffs materialize at the upper end of the projected range, operating profit growth could drop by 2.2 to 3.2 percentage points.

India-UK Free Trade Agreement Sets Stage For Medtech Growth, But Industry Demands Safeguards

 
• By Shubham Singh

Announced after three years of negotiation, the FTA eliminates tariffs on 99% of Indian product types, covering nearly all trade value, and reduces tariffs on 90% of UK products. Although not yet formally signed, the deal is being positioned by the Indian government as “transformative,” with an estimated economic impact of $6.4bn for the UK alone by 2040.

Medtronic To Spin Out Diabetes Unit As New Products Solidify Turn-Around Story

 
• By Shubham Singh

Medtronic’s diabetes spin-out – a process likely to run up to 18 months and involve 20% IPO followed by a split-off for Medtronic shareholders – will allow firm to focus on higher-margin devices.