EndoGastric Solutions (EGS), a leader in incisionless procedural therapy for gastroesophageal reflux disease (GERD), announced  it has secured additional new financing of up to $50.0 million, led by CRG (formerly Capital Royalty L.P.) and existing EGS investors including Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners, Foundation Medical Partners, and Radius Ventures.

"EGS has demonstrated that the strong data and dramatic shifts in healthcare economics support increased access to their proprietary TIF® procedure using EsophyX® technology," said Charles Tate, Chairman of CRG. "Our investment in their business will support growth and build substantial value in the company."

EGS plans to use proceeds from the financing to begin broad-scale commercialization, as well as making further R&D investments in next generation products used in their TIF procedure.

Founded in 2003, CRG (previously known as Capital Royalty L.P.) is a healthcare-focused investment firm with over $2 billion of assets under management that provides capital to healthcare companies primarily through structured debt and senior secured loans. CRG works across the spectrum of life science products and technologies and targets investment sizes ranging between $20 million and $200 million. The firm partners with commercial-stage healthcare companies to provide flexible financing solutions so they can achieve their growth objectives. CRG is headquartered in Houston, Texas with offices in Boulder, Colorado and New York City.

Based in Redmond, WA, EndoGastric Solutions, Inc., is a medical device company focused on developing and commercializing innovative, evidence-based, incisionless surgical technology for the treatment of gastroesophageal reflux disease (GERD). EGS has combined the most advanced concepts in gastroenterology and surgery to develop the Transoral Incisionless Fundoplication (TIF®) procedure—a minimally invasive solution that addresses a significant unmet clinical need.