AROUND THE REGION
GI Dynamics Inc., a Lexington company trying to develop treatments for obesity and diabetes, said it raised another $15 million from existing investors. The six-year-old company previously raised $46 million in venture capital from Advanced Technology Ventures, Cutlass Capital, Domain Associates, Johnson & Johnson Development Corp., and Polaris Venture Partners.
As part of its research, GI Dynamics is working on an alternative to gastric bypass surgery to help patients lose weight. The company says it has developed the "EndoBarrier," a liner that prevents food from coming in contact with the wall of the intestine.
The most recent fund-raising round was first reported by PE Week Wire and confirmed by GI Dynamics.
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