Obalon Therapeutics (NSDQ:OBLN) said yesterady that it retired the remaining $5 million of its long-term debt facility with Pacific Western Bank. The San Diego-based company, which produces an FDA-approved swallowable, gas-filled intra-gastric balloon for weight loss, had previously cut its debt to Pacific Western Bank from $20 milllion to the remaining $5 million in July, while […]
Medsil warns on aspiration risk with intragastric balloon
Medsil last month warned of the risk of fluid aspiration if its intragastric balloon isn’t deployed according to its instructions for use. The Russian company sent a letter to physicians dated August 20 indicating that the silicon used to make the balloon can degrade if exposed too long to the stomach’s hydrochloric acid. The device […]
GI Dynamics announces $10m in financing
GI Dynamics (ASX:GID) announced yesterday that it agreed to terms of a financing of up to approximately $10 million with Crystal Amber (GBX:CRS) to continue developing its EndoBarrier device. EndoBarrier is a plastic sleeve designed treat Type 2 diabetes and obesity by preventing the absorption of nutrients from food as it exits the stomach and […]
Apollo Endosurgery lands $20m in debt placement
Apollo Endosurgery (NSDQ:APEN) said yesterday that it closed a private debt placement worth $20 million. The debt pays 6.0% annually and can be converted to APEN shares at $3.25 apiece, with Austin, Texas-based Apollo able to force the conversion of the unsecured debentures. Apollo said it plans to use the proceeds for working capital and general […]
Obalon inks lease for first retail site
Obalon Therapeutics (NSDQ:OBLN) said today that it inked the first lease in its pivot to a brick-and-mortar retail strategy. The San Diego space is slated to become the Carlsbad, Calif.-based company’s first weight-loss center. Obalon, which developed a gas-filled balloon designed to treat obesity, in April laid off 50% of its employees in announcing the shift […]
Obalon slashes debt, raises $9m for weight loss balloon
Obalon Therapeutics (NSDQ:OBLN) said today that it slashed its debt load and added nearly $9 million to its coffers as it pivots toward a retail strategy. In April the Carlsbad, Calif.-based company, which makes a gas-filled balloon designed to treat obesity, revealed plans to lay off 50% of its employees, including all of its direct sales force, as it […]
Obalon readies $17m offering for retail pivot
Obalon Therapeutics (NSDQ:OBLN) last week registered a stock offering worth more than $17 million that it plans to use to finance its pivot to retail. In April the Carlsbad, Calif.-based company, which makes a gas-filled balloon designed to treat obesity, revealed plans to lay off 50% of its employees, including all of its direct sales force, in a […]
Apollo Endosurgery updates labeling on intragastric balloon
Apollo Endosurgery (NSDQ:APEN) said today that the FDA has approved its proposed labeling updates for the Orbera intragastric liquid-filled balloon system, which is used to treat obesity. The goal of the labeling updates is to improve patient safety and they will take effect immediately, according to the Austin, Texas-based company. The Orbera system and Reshape […]
GI Dynamics eyes CE Mark in 2020, reaps $2m in warrants exercise
GI Dynamics (ASX:GID) said it launched a pivotal trial of its EndoBarrier plastic gut sleeve, aiming to win back CE Mark approval next year, and raised the second tranche of a $10 million financing plan. The Boston-based company won approval for the trial in February to observe the EndoBarrier sleeve designed to prevent the absorption of […]
Gelesis lands $11m Italian grant
Gelesis said today that it received a $10.6 million (EU €9.4 million) grant to support the manufacturing of its Plenity weight loss device. The Boston-based company said it received the grant from the Puglia Region of Italy, where its material science R&D and clinical supply manufacturing is located. Funds from the grant came from the […]
BaroNova wins FDA nod for TransPyloric Shuttle weight loss device
BaroNova said today that it won FDA approval for its TransPyloric Shuttle non-surgical device intended for treating obesity, now cleared as a weight loss solution for adults with obesity and a body mass index of 30 to 40 kg/m2. The San Carlos, Calif.-based company said that the device is approved for up to 12 months […]
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