MINNEAPOLIS--(BUSINESS WIRE)-- GT Metabolic Solutions, Inc. (“the Company” or “GT Metabolic”), a pioneer in the medical device field and the first to receive FDA De Novo grant and 510(k) clearance for use of magnetic technology to create compression anastomoses (connections between two tubular structures in the body, such as intestines), today announced a Series C growth investment from J.P. Morgan Life Sciences Private Capital. Proceeds from the financing will support the Company’s ongoing global commercial launch and fund expansion into new surgical and therapeutic settings, with endoscopic and colorectal surgery next with additional indications to follow.
GT Metabolic’s novel linear magnetic anastomosis system provides an incisionless, sutureless, staple-free, and reversable technique for the creation of gastrointestinal (GI) compression anastomoses. The approach results in fully patent anastomoses without leaving foreign material in the body that could impede the healing process – a key differentiator against standard of care. Further, the Company’s device can be used regardless of the surgical access employed by the operating physician, be it endoscopic, robotic, or laparoscopic.
Each year, up to 18% of GI anastomotic procedures result in life-threatening complications such as leaks and bleeding that often can result in acute outcomes such as sepsis, hospital readmission, and death. GT’s linear magnetic system uses magnetic compression for the formation of seamless, innate-biology-preserving anastomoses, with the potential to reduce complication rates without sacrificing efficacy.
“The use of magnets in surgery is a game-changing technology to address serious adverse events, such as leaks and bleeding, which have troubled surgeons since the advent of minimally invasive surgery over 50 years ago,” said Joe Siletto, Managing Partner at J.P. Morgan Life Sciences Private Capital. “Over the past 20 years, the Company’s co-founder and CMO, Dr. Michel Gagner, has vigilantly pursued the use of magnets to provide surgeons with a superior solution for anastomosis creation; his mission has always been to reduce surgical complications and improve patient outcomes.”
“J.P. Morgan Life Sciences Private Capital’s growth investment will help accelerate both product development, surgeon trainings and worldwide commercial expansion,” said Thierry Thaure, co-founder and CEO of GT Metabolic. “This is an important milestone for GT Metabolic as we advance additional paradigm-shifting anastomotic products and work to deliver improved care for patients.”
“We are proud to partner with GT Metabolic as it works to transform minimally invasive surgical care,” said Anthony Perry, Vice President at J.P. Morgan Life Sciences Private Capital. “With authorizations for anastomosis in a number of surgical procedures across the U.S., Europe, South America and other regions, our team is excited to provide GT with the financial support to bolster its commercialization efforts, further invest in additional anastomosis indications such as for use in colorectal surgery, and expand patient and provider access to these novel products.”
J.P. Morgan Life Sciences Private Capital’s investment marks GT Metabolic’s first institutional financing partnership and is the fifth investment made by the J.P. Morgan Life Sciences Private Capital team. This partnership underscores J.P. Morgan’s commitment to partnering with founders and founder-owned businesses, providing the strategic capital and support needed to empower innovative companies to scale and realize their full potential.
About GT Metabolic Solutions Inc.
GT Metabolic Solutions is a medical device company that develops and manufactures magnetic compression products designed for the safer creation of gastrointestinal anastomoses. With locations in Minneapolis, Minnesota, San Jose, California, and Montréal, Canada, GT Metabolic’s products have demonstrated efficacy in reliably creating anastomoses while driving low complication rates to reduce the need for surgical re-interventions. For more information, visit https://gtmetabolic.com/.
About J.P. Morgan Life Sciences Private Capital
J.P. Morgan Life Sciences Private Capital is the life sciences platform of J.P. Morgan Private Capital that partners with leading early-stage biotherapeutics and late-stage healthcare companies. The early stage biotechnology practice is focused on company creation, Seed and Series A investments across all therapeutic areas in biotechnology. The late-stage healthcare practice is focused on commercial-stage medical devices, pharmaceutical and device services, biopharma, and tools and diagnostics companies. J.P. Morgan Asset Management is a global leader in alternatives, with over 60 years of experience managing alternative investments, and $460 billion in assets under supervision spanning real estate, private equity, private credit, liquid alternative products, infrastructure, transport, hedge funds, and forestry. For more information, visit: www.jpmorgan.com/am.
