Obesity and diabetes device maker GI Dynamics (ASX:GID) announced the launch of its EndoBarrier gastrointestinal liner in Austria and the establishment of two "Centers of Excellence" to implant the device.
GI Dynamics
GI Dynamics launches EndoBarrier in Austria for the treatment of obesity and type II diabetes
Company Treats First Patients with the EndoBarrier and Establishes Centers of Excellence in Austria; Distribution Agreement for the EndoBarrier in Austria
LEXINGTON, Mass. & SYDNEY–(BUSINESS WIRE)–GI Dynamics, Inc. (ASX: GID) today announced the launch of the EndoBarrier® Gastrointestinal Liner (the EndoBarrier) in Austria, the establishment of the first two Centers of Excellence and the treatment of patients at each new Center.
The Barmherzige Brüder Hospital and the Hallein Clinic are the first Centers of Excellence established by GI Dynamics in Austria. Both centers are very experienced in the field of metabolic disorders and are well known for their publications in the field. All EndoBarriers used in the procedures were either paid for by the hospital or by the patients.
GI Dynamics’ EndoBarrier improves diabetes by affecting gastrointestinal hormones, research shows
LEXINGTON, Mass. & SYDNEY–(BUSINESS WIRE)–GI Dynamics, Inc. (ASX: GID) announced new data results that reveal changes in certain hormones in patients treated with the EndoBarrier® Gastrointestinal Liner (the EndoBarrier), which results in rapid improvement in glycemic control and weight loss. These data were presented during an oral session at the 47th Annual Meeting of the European Association for the Study of Diabetes and Obesity (EASD).
“The rapid increase in certain hormones and immediate changes in glycemic control seen with the EndoBarrier in this study further support the theory that it works by affecting hormone levels”
Weight-loss: GI Dynamics’ EndoBarrier weight-loss implant improves diabetes within days, researchers say
Patients implanted with GI Dynamics Inc.’s (ASX:GID) EndoBarrier weight-loss device experienced a bonus in reduction in some hormonal imbalances associated with diabetes, usually within days, researchers said.
Among 17 obese patients with Type II diabetes who were treated with the EndoBarrier device, all showed rapid and increased insulin sensitivity, a normalized glucose response and other hormonal changes that allowed all but one to eliminate or reduce the need for anti-diabetic medications after 24 weeks.
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Diabetes News: GI Dynamics shares lose 13% on first day of trading in Australia
GI Dynamics (ASX:GID) had a less-than-auspicious début on the Australian stock exchange yesterday, where GID share prices dropped 13 percent in their first day of public trading.
The Lexington, Mass.-based weight-loss device maker went public on the Australian Securities Exchange with an initial public offering August 11 that raised about $86 million. Yesterday marked the first day of public trading for the stock.
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Weight loss treatment: GI Dynamics to open on public exchange tomorrow
GI Dynamics will officially begin trading as a public stock on the Australian Securities Exchange for the first time tomorrow, following its $86 million initial public offering.
The Lexington, Mass.-based weight-loss device maker plans to open 277 million CHESS Depository Interests, a type of security used by the Australian Stock Exchange to allow international companies to trade on the local market.
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IPO: GI Dynamics lands $86 million
GI Dynamics hit its lower benchmark by raising $86 million in its down-under initial public offering.
The Lexington, Mass.-based device company hoped for between $86 million and $102 million through sales of some 72.7 million chess depository interests at a price of A$1.10 per CDIs, a type of security used by the Australian Stock Exchange to allow international companies to trade on the local market.
The company also opened another 13.6 million shares through an oversubscription of the offering.