The financing, which was led by the company’s current investor Spring Bay Companies, will be used by the company to support the commercialization of its Endo360° minimally invasive suturing devices.
To expand the presence of the device into the market, EndoEvolution appointed Ron Rudowsky as its new president and chief executive officer.
Spring Bay managing director Dan Ryan said, "EndoEvolution’s Endo360° Minimally Invasive suturing devices are in production and ready for market, and so we are extremely pleased that such an outstanding industry leader as Ron Rudowsky has come on board to lead the commercialization of EndoEvolution’s outstanding technology."
Ryan said the company introduced the automated Endo360° MIS suturing devices for use during the minimally-invasive surgeries.
"I’m excited about the opportunity to create market leadership for this terrific technology," Ryan added.
