ValenTx Raises $22M In Series B

Carpinteria-based ValenTx, a developer of medical devices for addressing morbid obesity, announced today that it has raised $22M in a Series B financing round. The round was led by SV Life Sciences, and also included Covidien Ventures, Sapient Capital, EDF Ventures, Kaiser Permanente Ventures, Affinity Capital Partners, and TGAP Ventures. The firm said the funding would go towards clinical and regulatory development and commercialization. Paul LaViolette of SV Life Sciences joins the firm's board as part of the funding. The financing had been disclosed in late August through a regulatory filing.