Endogenex has secured USD 50 million in an extension of its Series C financing round, aimed at advancing its innovative treatment approach for Type 2 Diabetes. The round was led by new investor Arboretum Ventures, with participation from existing backers.

The latest funding builds on the USD 88 million Series C round closed in June 2024, bringing the total Series C financing to USD 138 million. The proceeds will primarily support the completion of the company’s pivotal ReCET Clinical Study and its regulatory pathway toward approval from the US Food and Drug Administration.

Endogenex is developing a minimally invasive, outpatient endoscopic procedure that uses non-thermal pulsed electric fields to target inflamed tissue in the duodenum—the first section of the small intestine. The approach is designed to restore normal gut function, which plays a critical role in regulating blood sugar, metabolism, appetite and digestion. Researchers believe that dysfunction in this region may contribute significantly to the progression of type 2 diabetes.

According to the company, current therapies such as GLP-1 receptor agonists and SGLT2 inhibitors often fail to halt disease progression, as they do not address underlying gut-related dysfunction. The ReCET System aims to go beyond symptom management by potentially modifying the course of the disease.

The ongoing ReCET Clinical Study is a multicentre, randomised, double-blind, sham-controlled trial evaluating the safety and effectiveness of the system. The study received Investigational Device Exemption (IDE) approval from the FDA in November 2023 and is enrolling patients across clinical sites in the United States and Australia.

With this latest funding, Endogenex aims to accelerate clinical validation and move closer to bringing a first-in-class therapeutic option to millions of patients living with type 2 diabetes worldwide.