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Apollo Endosurgery Secures $11.5M Series A Round

Austin, TX-based Apollo Endosurgery, an early stage company developing devices for surgical procedures conducted through natural orifices, has secured $11.5 million in Series A financing. The round -- participated in by PTV Sciences, H.I.G. Ventures, and individual investors -- will be used to complete product development and conduct U.S. human trials for the company's NOTES Access System. Apollo develops disposable devices that facilitate both endolumenal and translumenal surgical procedures (also known as NOTES). In addition to avoiding the scars caused by abdominal incisions, these procedures are expected to result in less pain, require less sedation, and lead to faster recovery times for patients. Apollo's NOTES System allows surgeons to quickly and safely access the peritoneal cavity for both diagnostic and surgical interventions and is compatible with most currently available endoscopes. In addition, Apollo has developed a set of flexible surgical tools designed specifically for natural-orifice procedures. The company's devices are being applied to obesity, early stage cancers, and general surgical procedures. Apollo Endosurgery was incubated in 2006 by PTV Sciences and received initial support through a seed grant from the University of Texas Medical Branch. Through a collaboration with the Apollo Group, a think tank founded in the late 1990s, Apollo Endosurgery has assembled the key intellectual property and thought leaders in the field of natural-orifice surgery. "Apollo's unique collaboration of world renowned therapeutic endoscopists and minimally invasive surgeons combined with their broad patent base presents a compelling investment opportunity," said Matt Crawford of PTV Sciences, in a press release.

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