The deal gives Mayo Clinic an equity stake in the robotic stomach camera startup, Endiatx co-founder and CEO Torrey Smith told MassDevice. He declined to share the precise size of the single-digit percentage equity stake or other financial terms, but said no cash was changing hands.
Dr. Vivek Kumbhari [Photo courtesy of Dr. Kumbhari]The agreement formalizes Hayward, California-based Endiatx’s collaboration with Rochester, Minnesota-based Mayo Clinic. Dr. Vivek Kumbhari, the chair of gastroenterology and hepatology at Mayo Clinic–Florida, joined the Endiatx board in 2021.The agreement is set to remain in place for a few years, which Smith said he hoped would be enough time to get a fully developed PillBot through a clinical trial and onto the marke…