Gelesis announced today that it partnered with China Medical Systems for the commercialization of the Plenity weight loss pill in China. Under the terms of the deal, CMS will provide $35 million upfront via licensing fees and equity investment, plus there remains the potential for an additional $388 million in future milestone payments, as well […]
Neuronetics, Obalon Therapeutics get PPP loans
Neuronetics (NSDQ:STIM) and Obalon Therapeutics (NSDQ:OBLN) are the latest companies to announce that they entered into loans under the Paycheck Protection Program (PPP). The U.S. Small Business Association administers the PPP as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. Under the PPP, 75% of the loan proceeds must be used for payroll purposes, […]
BioCorRx announces senior management changes
BioCorRx (OTC:BICX) yesterday announced the promotions of Lourdes Felix to president and Tom Welch to executive VP of the company, effective immediately. Felix is set to retain her role as CFO and a member of the board of directors, while Welch departs his previous post as VP of operations at Anaheim, Calif.-based BioCorRx. According to a […]
Baxter wins FDA nod for next-gen staple-line reinforcements
Baxter (NYSE:BAX) announced today that it received FDA 510(k) clearance for the new generation of its Peri-Strips Dry with Veritas collagen matrix (PSDV) staple-line reinforcement material. The “PSDV with secure grip” is now available with peel-and-secure technology. Baxter touts the new generation of the product as two times faster in preparation when compared to the previous […]
Baxter, Cosmed win FDA clearance for portable metabolism monitor
Baxter (NYSE:BAX) announced that it won FDA 510(k) clearance for the Q-NRG+ metabolic monitoring device developed by its partner Cosmed for helping with nutrition therapy. Q-NRG+ uses indirect calorimetry (IC) technology to measure a patient’s calorie needs or resting energy expenditure (REE). Together, those readings can be used to inform prescription and administration of nutrition therapy, […]
Obalon to raise less from stock purchasing agreement
Obalon Therapeutics (NSDQ:OBLN) announced that it entered into a new purchase agreement with Lincoln Park Capital Fund that will see a previously agreed purchase of $20 million of Obalon’s common stock drop to $15 million. The new purchase agreement between the two companies is replacing the existing deal from Dec. 27, 2018. The previous agreement has […]
Allurion Technologies appoints three new executives
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 […]
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