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September 10, 2015

IPO: EndoChoice Revolutionizes GI Industry

Colorectal cancer is the second leading cause of cancer-related deaths in the US, taking the lives of roughly 50,000 people every year. The gold standard in screening for the disease, the colonoscopy, is limited by standard scopes to a 170° field of view. So while a step in the right direction in terms of detection, standard scopes fall short in their ability to detect all of the potential abnormalities.

This is the very problem that motivated EndoChoice – to widen the field of view to increase physicians’ ability to detect pre-cancerous polyps. The result: The Fuse Full Spectrum Endoscopy®, providing physicians with a 330° field of view during colonoscopies. According to the results of a company-sponsored tandem clinical trial published in The Lancet Oncology, GI specialists using Fuse during colonoscopy identified 69% more pre-cancerous polyps than when using standard endoscopes.  

On June 5, EndoChoice Holdings Inc. (NYSE:GI), completed an IPO, raising nearly $106 million on the New York Stock Exchange. River Cities Fund IV first invested in EndoChoice in 2008 and is the second-largest stakeholder in the company.  Co-investors include Sequoia Capital, Council Ventures, Envest, Accelmed Fund and Evergreen Venture Partners. EndoChoice is a platform technology company providing endoscopic imaging systems, devices and infection control products and pathology services for specialists treating a wide range of gastrointestinal conditions, including colon cancer. Today, the Atlanta-based company has a global footprint with manufacturing in Germany, China and Atlanta with research and development in Israel.  They serve more than 2,500 customers in the US and work with distribution partners in 30 countries.

River Cities would like to congratulate Mark Gilreath, CEO, and everyone at EndoChoice for their IPO and continued innovative work revolutionizing the GI space.