Palo Alto-Based Hercules Technology Invests $1.5 Million in Barrx Medical

Palo Alto, Calif. -- Hercules Technology Growth Capital, a Palo Alto-based specialty finance company focused on technology and life science companies, said on Friday that it has made a $1.5 million investment in Sunnyvale-based Barrx Medical as part of that company's $27.8 million round of equity financing, announced a week ago. Barrx is a maker of medical devices for the treatment of Barrett's esophagus, a precancerous condition of the esophagus. The device allows physicians to remove the thin layer of esophageal lining containing Barrett's esophagus cells before it has a chance to develop into cancer. The company's funding round was led by Montagu Newhall Associates.
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