Crospon takes EndoFLIP into US with €2m
This article was originally published in Clinica
Executive Summary
Irish medical device developer Crospon is preparing for the US launch of its flagship product, the EndoFLIP gastro-diagnostic imaging device, after receiving 510(k) clearance and raising €2m ($2.9m) in additional funding. The financing came from Crospon’s existing shareholders – a number of private investors and Enterprise Ireland – as well as new investor The Wellcome Trust. The funds and FDA clearance will enable Galway-based Crospon to begin commercialisation activities in the US – through its Carlsbad, California subsidiary established last year – and build up clinical data to support the use of EndoFLIP for wider indications, particularly within bariatric surgery. The EndoFLIP (which stands for endolumenal functional lumen imaging probe) is used to measure the dimensions and function of various hollow organs and sphincters throughout the gastrointestinal tract. Its first indication is for use as a tool to aid diagnosis of gastroesophageal reflux disease (GERD), but can also have wider applications such as in bariatric surgery and diagnosing anorectal disorders.
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