Baronova, a US-based medical device maker for weight loss, has raised $27.3m in its series C round led by Sante Ventures and US-listed healthcare company Boston Scientific as new investors.
Venture capital firms Onset Ventures, Highland Capital Partners, Arboretum Ventures, and Lumira Capital also invested in the C round.
Santé Ventures was founded as a VC firm in 2006 by the founding partners of healthcare system Ascension Health’s $125m corporate venturing fund.
In October 2008, Baronova raised $7.5m in its B round led by healthcare company Allergan and including its $6.5m series A investors from 2006, Arboretum, Highland and Onset.
Allergan is not listed as an investor in Baronova on its website.
Baronova said the money would help fund a clinical study of its TransPyloric Shuttle device to slow the digestion process and create a sensation of fullness.
New Century Capital Partners was the placement agent for Baronova.