Medical product group Johnson & Johnson participated in a $16.4m series A1 round for US-based medical device developer GI Windows Medical on Wednesday through its Johnson & Johnson Innovation – JJDC subsidiary.
The round included an unnamed strategic investor as well as Sonder Capital, GT Healthcare Capital Partners, JC Investco, Kennedy Trust for Rheumatology Research and Coleman Trust.
GI Windows is developing a non-invasive surgical instrument to treat type-2 diabetes and obesity that enables surgeons to examine a patient’s intestines and form digestive bypasses through a procedure known as an anastomotic endoscopy.
The company was spun off by medical device producer Medtronic’s endoscopic technology subsidiary, Beacon Endoscopic, in 2014. It will use the series A1 cash for product development as it looks to secure clinical validation for its system.
The funding comes after GI Windows raised $2.4m of debt financing in 2014 and $9.5m in a 2017 round that included $3.2m of converted notes.