Endogenex Raises $88M Series C

Endogenex, a Minneapolis, MN-based clinical-stage medical device company, raised $88M in Series C funding.

Backers included Hatteras Venture Partners, Lumira Ventures, Orlando Health Ventures, Intuitive Ventures, Longitude Capital, Mayo Clinic, and Santé Ventures.

The company intends to use the funds to complete the pivotal ReCET Clinical Study, which has been granted an Investigational Device Exemption (IDE) by the U.S. Food and Drug Administration (FDA).

Led by CEO Stacey Pugh, Endogenex, founded in partnership with Mayo Clinic, aims to empower treatment options for individuals with type 2 diabetes (T2D). Its innovations focus on resetting the body’s metabolic signaling system by harnessing its natural regenerative capabilities to improve metabolic function. Through the development of the ReCET System and the novel application of precise, controlled, non-thermal pulsed electric fields, Endogenex is improving T2D therapy, helping patients regain control of their blood glucose levels and slow disease progression.

Commenting on the news, Stacey Pugh said: “This funding will enable us to complete our pivotal clinical study, bringing us closer to offering a groundbreaking solution for type 2 diabetes patients. The therapeutic landscape in diabetes continues to evolve, especially around the earlier use of SGLT2i and GLP-1RA. However, there remains a considerable unmet need to address the underlying pathophysiology and progression of the disease.”