Standard Bariatrics

Standard Bariatrics Secures $35M in Series B Funding to Accelerate Development and Commercialization of Their First Bariatric Surgical Platform for Sleeve Gastrectomy

Cincinnati, Ohio – June 1, 2021Cincinnati-based Standard Bariatrics, Inc., has developed the Titan SGS™, a first-of-its-kind design that offers surgeons performing sleeve gastrectomy, the top bariatric surgical procedure for obesity disease, the industry’s longest continuous staple cutline of 23 centimeters.1

Standard Bariatrics®, an emerging leader in the bariatric surgery medical device field, today announced the completion of a $35M Series B round led by U.S. Venture Partners (USVP), a Silicon Valley venture capital firm that partners with entrepreneurs to transform their ideas into world-changing companies. New investor River Cities Capital joins the Series A syndication investors RiverVest® Venture Partners, Hatteras Venture Partners, Queen City Angels and Emergent Medical Partners who also participated in the Series B round.

 “U.S. Venture Partners is excited to join the team at Standard Bariatrics as they seek to transform the way bariatric surgery is delivered and improve patient outcomes,” said Casey Tansey, general partner at U.S. Venture Partners.

Standard Bariatrics is responding to the growing global obesity epidemic through the development of device solutions designed to enable surgeons to deliver more consistent and repeatable surgical outcomes. In April of 2021, the company’s Titan SGS™ stapler received clearance from the US Food and Drug Administration2 allowing the device to be used in bariatric surgery requiring the creation of sleeve pouch anatomy (sleeve gastrectomy). The submission was supported by the completion of a successful 62-patient study.

Standard Bariatrics CEO Matt Sokany said, “We are thrilled to have received clearance from the FDA in April of 2021 for our Titan SGS™ stapler. Now, completing Series B financing immediately following FDA clearance gives us the needed capital to scale our commercialization plans for the solutions we offer surgeons for use in sleeve gastrectomy and to continue developing our technology platforms.”

About Standard Bariatrics®, Inc.

Standard Bariatrics, Inc., is a Cincinnati-based surgical procedure company focused on the innovative development and commercialization of medical devices. Driven by a passionate group of surgical innovators, the company continues to release surgical solutions designed to address significant market opportunities. A seasoned team of medical and management professionals, Standard Bariatrics® has more than 175 combined years of experience in developing and commercializing novel medical device technologies with a record of achieving both clinical and economic excellence for patients and providers.

For more information, visit https://www.standardbariatrics.com or call 513-620-7751.

1. Goodman, Multisite Study of Titan SGS Stapler in Longitudinal Gastric Resection.2020.
2. Indications for Use. K210278: “The Titan SGS linear cutter is intended for longitudinal transection and resection of gastric tissue for sleeve gastrectomy pouch creation.”

About U.S. Venture Partners

U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 500 companies spanning four decades. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer, and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, CA.

About River Cities Capital

River Cities is a growth equity firm investing in high-potential companies at the intersection of healthcare and information technology. They seek to be a business partner first and a capital provider second, investing significant human capital to leverage their domain expertise, a network of healthcare thought leaders and deep relationships with health systems assembled over a 27-year history. River Cities Capital is based in Cincinnati, OH and Raleigh, NC.

Media Contact
Ronald Galovich
Chief Commercial Officer, Standard Bariatrics®
513.620.7751
ron@standardbariatrics.com

Standard Bariatrics® Titan SGS Stapling Technology for Sleeve Gastrectomy Receives FDA Clearance

Cincinnati, Ohio – May 4, 2021 – Standard Bariatrics® announced today that its novel Titan SGS™ stapling technology, designed specifically for bariatric sleeve surgery, has been cleared by the US Food and Drug Administration (FDA).1 The Titan SGS™ first-of-its-kind design offers surgeons performing sleeve gastrectomy procedures the industry’s longest continuous staple cutline of 23 centimeters.2

“This clearance marks another important milestone in our mission to create solutions that can lead to more consistent and repeatable bariatric surgery outcomes,” said Jonathan Thompson, MD, Founder and Chief Medical Officer of Standard Bariatrics®. “The Titan SGS™ stapling technology is the natural evolution of the Standard Clamp™ anatomy-based approach to sleeve gastrectomy, which has been successfully used in more than 10,000 procedures.”

With a purposeful design, driven by the needs of today’s bariatric surgeon performing sleeve gastrectomy, Titan SGS™ provides real-time audio and visual feedback, graduated staple height formation, tissue-sensing technology and a firing cycle optimized particularly for the patient’s gastric tissue during gastrectomy pouch creation.1,3,4 While every patient’s anatomy is different, the Titan SGS™ long staple line enables surgeons to plan and place staples in one firing, minimizing variations often associated with the current use of multiple overlapping short-cartridge staple firings.5  

The design ensures more consistent staple formation across the entire 23-centimeter cutline for improved staple-line strength and fewer malformed staples than competitive staplers that offer short cartridges for more general surgical use.2,3,4  The Titan SGS™ design may result in a more secure staple line and fewer chances of leaks, as evidenced with higher burst pressures.3 Because Titan SGS™ takes approximately half the time to create the staple line,6,7 it can also potentially improve procedure time and operational efficiencies.2,7

Titan SGS
Titan SGS

Titan SGS™ was cleared after a successful 62-patient multi-center trial in longitudinal gastric stapling.2 The University of Buffalo Department of Surgery in the Jacobs School of Medicine and Biomedical Sciences (UBMD) was the first to use Titan SGS™. Steven Schwaitzberg, MD, professor and chair of surgery in the Jacobs School and president of UBMD Surgery said, “Gastric sleeve is the predominant bariatric procedure in the world today and this key refinement will serve patients well for years to come.”

“We are focused on bringing innovation and breakthroughs in science and surgery to our users,” said Matt Sokany, Chief Executive Officer of Standard Bariatrics®. “We believe Titan SGS™ has the potential to overcome the challenges bariatric surgeons may encounter with the use of existing short-cartridge stapling technology.”

Surgeons interested in learning more about Titan SGS™ stapling technology or about applying for training and use can contact Ronald Galovich, Chief Commercial Officer of Standard Bariatrics®, at 513.620.7751 or ron@standardbariatrics.com.

About Standard Bariatrics®, Inc.

Standard Bariatrics, Inc., is a Cincinnati-based surgical procedure company focused on the innovative development and commercialization of medical devices. Driven by a passionate group of surgical innovators, the company continues to release surgical solutions designed to address significant market opportunities. A seasoned team of medical and management professionals, Standard Bariatrics® has more than 175 combined years of experience in developing and commercializing novel medical device technologies with a record of achieving both clinical and economic excellence for patients and providers.

Standard Bariatrics® is supported through early investment from Queen City Angels and CincyTech, and more recently Series A lead investors RiverVest®, Hatteras Venture Partners and Emergent Medical Partners.

For more information, visit https://www.standardbariatrics.com or call 513-620-7751.

1. Indications for Use, K210278: “The Titan SGS linear cutter is intended for longitudinal transection and resection of gastric tissue for sleeve gastrectomy pouch creation.”
2. Goodman, Multisite Study of Titan SGS Stapler in Longitudinal Gastric Resection.2020
3. Slayer, Spuzzillo, Wakefield, et al.  Assessment of a novel stapler performance for laparoscopic sleeve gastrectomy.2020
4. Yeo, Thompson, Hanseman, Diwan, Dunki-Jacobs, et al. Increased staple loading pressures and reduced staple heights in laparoscopic sleeve gastrectomy reduce intraoperative bleeding.2020
5. Toro, Lin, Patel, et al. Association of Radiographic Morphology with Early Gastroesophageal Reflux Disease and Satiety Control after Sleeve Gastrectomy.2014
6. Titan Pre-clinical 510K data on file
7. Varban, Niemann, Stricklen, et al. Far from Standardized. Journal of Laparoendoscopic & Advanced Surgical techniques.2107

Media Contact
Ronald Galovich
Chief Commercial Officer, Standard Bariatrics®
513.620.7751
ron@standardbariatrics.com

Standard Bariatrics Names Kurt Azarbarzin as Chairman of the Board of Directors

Azarbarzin brings vast experience in medical devices, surgical stapling, innovation, and successful execution of growth strategies

Blue Ash, OH – January 30, 2019 – Standard Bariatrics, Inc. today announced the appointment of Kurt Azarbarzin as Chairman of the Board of Directors, effective immediately.

Azarbarzin, currently serving as Chief Technology Officer at CONMED Corporation (“CONMED”), brings 35 years of experience in the medical device industry. Prior to joining CONMED, he was Founder and CEO of SurgiQuest, Inc. (“SurgiQuest”), a privately-held venture-backed company that developed, manufactured, and marketed innovative access technologies for minimally invasive surgery. While at SurgiQuest, he commercialized, financed, and led a growth strategy that created significant shareholder value and resulted in a successful acquisition of the company by CONMED for $265 million in November 2015. Prior to SurgiQuest, Azarbarzin spent 21 years at United States Surgical Corporation/Tyco, most recently as Global Vice President of Research and Development.

“Kurt’s broad industry experience and background will significantly strengthen our Board of Directors,” said Dr. Jon Thompson, Founder of Standard Bariatrics. “We look forward to Kurt’s valuable contributions as we remain focused on consistent outcomes for patients undergoing Sleeve Gastrectomy, using our surgical instrumentation.”

Azarbarzin commented, “I am very pleased to join the talented Standard Bariatrics team, and excited about complementing the company’s ongoing strategic efforts. I look forward to working with the experienced Board and management team as they continue to drive innovation and pursue compelling market opportunities.”

Azarbarzin sits on the Board of TELA® Bio, Inc., a surgical reconstruction company and is a member of the Executive Board at the Center for BioMedical Innovation and Technology at Yale University.

About Standard Bariatrics, Inc.
Standard Bariatrics, Inc. is a Cincinnati-based surgical procedure company focused on the innovative development and commercialization of medical devices. Driven by a passionate group of surgical innovators, the company will continue to release surgical solutions designed to address significant market opportunities. The Standard Bariatrics management team has over 175 combined years of experience in developing and commercializing novel medical device technologies with a record of achieving both clinical and economic excellence for patients and providers. Standard Bariatrics is supported through early investment from Queen City Angels CincyTech and Accelerant, more recently, series A lead investors RiverVest and Hatteras. For more information, visit https://www.standardbariatrics.com or call 513-620-7751.

Standard Bariatrics Receives FDA Indication for #1 Bariatric Surgical Procedure

Innovative laparoscopic bariatric device manufacturer announces FDA 510(k) clearance for Sleeve Gastrectomy

Cincinnati, Ohio – October 22, 2018 – Standard Bariatrics, an innovator of surgical devices, has received a sleeve gastrectomy indication from the Food and Drug Administration (FDA) for the STANDARD CLAMP®.1

“Standard Bariatrics is committed to creating superior bariatric surgery outcomes through device innovations. The acceptance of the supplemental data by the FDA to expand the U.S. indications of the STANDARD CLAMP® is another significant milestone for the Company,” said Jonathan Thompson MD, Founder and Chief Medical Officer of Standard Bariatrics. “With the patient’s health top priority, we aimed to standardize an anatomy-based approach to sleeve gastrectomy.”

Current techniques and device usage for laparoscopic sleeve gastrectomy are highly variable, and studies show that freehand sleeve gastrectomy techniques can yield inconsistent pouch anatomy. Because of challenges, bariatric surgeons have been able to achieve the ideal sleeve anatomy less than 40% of the time, resulting in inconsistent outcomes for the patient including reduced weight loss and GERD.2

The STANDARD SLEEVE™ addresses issues of inconsistent surgical anatomy through an anatomy-based approach. Performed with the first-of-its-kind, purpose-built, disposable device, the STANDARD CLAMP® allows fixation of the full cut line across the entire stomach, enabling surgeons to plan and hold the staple line prior to dividing the stomach during sleeve gastrectomy.

“The STANDARD CLAMP® allows planning, visualization and stabilization of the full staple line before staple firing, enabling bariatric surgeons to confidently achieve ideal surgical sleeve anatomy consistently,” said Ronald Galovich, Chief Commercial Officer of Standard Bariatrics. “We are excited about the opportunity to bring the STANDARD CLAMP® to every bariatric surgeon performing the sleeve gastrectomy procedure.”

About Standard Bariatrics, Inc.
Standard Bariatrics, Inc., is a Cincinnati-based surgical procedure company focused on the innovative development and commercialization of medical devices. Driven by a passionate group of surgical innovators, the company will continue to release surgical solutions designed to address significant market opportunities. The Standard Bariatrics management team has over 175 combined years of experience in developing and commercializing novel medical device technologies with a record of achieving both clinical and economic excellence for patients and providers.
Standard Bariatrics is supported through early investment from Queen City Angels and CincyTech, and more recently Series A lead investors RiverVest® and Hatteras Funds. For more information, visit https://www.standardbariatrics.com or call 513-620-7751.

Media contact
Ronald Galovich, Chief Commercial Officer
908-300-4040, ron@standardbariatrics.com

Read the article on EurekaAlert!

1 K181608 The Standard Clamp, Disposable is indicated for use in laparoscopic procedures to grasp, clamp, and manipulate soft tissues. The Clamp is indicated for use in bariatric procedures such as sleeve gastrectomy as a guide, to clamp and manipulate flat tissue and organs, such as the stomach.

2 Toro, JP, et al. (2014). Association of radiographic morphology with early gastroesophageal reflux disease and satiety control after sleeve gastrectomy. Journal of American College of Surgeons. Sep; 219(3):430-8.

Standard Bariatrics closes Series A round of financing

Standard Bariatrics, Inc., an innovator of bariatric surgical devices, has raised a Series A round of financing. RiverVest Venture Partners led the round with participation from Hatteras Venture Partners, Queen City Angels/QCA First Fund V, Emergent Medical Partners, Accelerant Fund and North Coast Angels. The size of the round is undisclosed.

“This new capital will enable us to complete our product development plans to launch new products for use in gastric procedures,” said Matt Sokany, CEO of Standard Bariatrics.

Read the full article on EurekaAlert!

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