Allurion Technologies this week said it appointed three new executives. Whitney Cypes was appointed VP of global marketing. Cypes has more than 15 years of global marketing of medical devices experience. Prior to joining Allurion, Cypes was the senior director of marketing at Insulet. She has also held a number of leadership roles at Hologic, […]
Allurion Technologies raises $34m
Allurion Technologies announced today that it raised $34 million in new funding through a securities financing and a growth capital term loan. Natick, Mass.-based Allurion plans to put the proceeds from the funding toward international growth and the launch of its weight loss program in the U.S. once FDA approval is secured, according to a […]
ReShape loses profits, grows sales in Q3
ReShape Lifesciences (OTC:RSLS) posted large bottom-line losses in the third quarter, despite a big leap in sales growth. The San Clemente, Calif.–based obesity and metabolic disease treatment developer posted losses of -$28.8 million, or $-106.55 per share, on sales of $3.5 million for the three months ended Sept. 30, for a massive bottom-line slide on […]
Obalon treats first patient at weight loss clinic
Obalon Therapeutics (NSDQ:OBLN) said last week that it treated the first patients at its company-owned Obalon Center for Weight Loss in San Diego. The San Diego-based company produces an FDA-approved swallowable, gas-filled intra-gastric balloon for non-surgical weight loss. Obalon said the new center is staffed with physicians specializing in weight loss, along with nutritional counselors and […]
Obalon pays off its long-term debt
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 […]
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