EnteroMedics (NSDQ:ETRM) said today that it signed a distribution deal for its Maestro weight-loss device with Academy Medical, an orthopedic implant and wound care supplier to the U.S. Veterans Affairs Dept. and the U.S. Defense Dept.
The Maestro device is an implantable neurostimulation device designed to intermittently block the vagus nerves using high-frequency, low-energy impulses. The therapy, which St. Paul, Minn.-based EnteroMedics calls “vBloc,” is approved in the U.S., Europe and Australia to aid in weight loss in obese adults with a body mass index of 40 to 45 or a related health condition and a BMI of 35 to 39.9.
“Our agreement with Academy Medical is yet another step down the path to making vBloc a widely available option for appropriate patients, including those who are veterans of our armed services,” president & CEO Dan Gladney said in prepared remarks. “We look forward to initiating training this year with surgeons affiliated with the VA in order to expand the geographic footprint of vBloc-trained facilities that can offer this unique and safe obesity treatment option.”
“Ensuring that vBloc therapy is widely available throughout the VA system allows veterans who do not wish to undergo anatomy-altering and restricting surgery to have access to a cutting-edge, safe and effective alternative,” added Dr. Sachin Kukreja of the VA North Texas Health Care System. “Our center performed the first vBloc surgery in the VA system in 2015, and we’ve been able to see 1st-hand the positive impact it’s having on people who are struggling with weight loss. We look forward to being able to expand the reach of this exciting new treatment.”
Last month, EnteroMedics released data from its ReCharge study in patients with moderate obesity, touting 74% greater weight loss with vBloc compared to a sham control. Full results were published in the journal Obesity Surgery.
In January, EnteroMedics said it closed the 2nd tranche of the $25 million senior amortizing convertible notes offering it announced last November, bringing in $11 million.
