ValenTx raises $10.3 million for implantable gastric bypass device

Startup ValenTx has attracted nearly $10.3 million from 32 investors, according to a filing with the Securities & Exchange Commission.

The Maple Grove, Minn. company is developing a removable gastric bypass device as an alternative to Roux-en-Y gastric bypass surgery. It raised $10,271,050 in the round begun July 18, 2018.

The ValenTx endoluminal bypass therapy mimics the attributes of a Roux-en-Y gastric bypass and is implanted through a non-surgical, endoscopic procedure, according to the company’s website. This procedure does not require gastric stapling or permanent changes to the patient’s anatomy. The device is removable, replaceable and designed so that the physician could change the therapeutic profile, thereby optimizing the treatment toward the individual patient’s needs.

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