EnteroMedics (NSDQ:ETRM) said today it is rebranding under the moniker ReShape Lifesciences, shifting its NASDAQ ticker to “RSLS”.
The move comes after the St. Paul, Minn.-based company acquired ReShape Medical earlier this month for $38 million, along with its ReShape integrated dual balloon system designed to facilitate weight loss in obese adult patients.
The new name is meant to reflect the company’s growth to providing a number of medical devices related to caring for and treating obesity and its associated health conditions, according to a press release.
ReShape Lifescience’s portfolio includes the FDA cleared vBloc system and ReShape balloon system, as well as the Gastric Vest System, which is FDA cleared as an investigational device.
“Our new name, ReShape Lifesciences, conveys our commitment to customers and patients as a long-term partner helping address obesity and its associated comorbidities. The name exemplifies our core mission of enhancing and extending life for patients. With the recent acquisitions of ReShape Medical, Inc. and BarioSurg, Inc., we have transformed from a single-product company to a comprehensive provider of multiple effective, innovative, and minimally-invasive obesity solutions for our patients and physician-customers,” prez & CEO Dan Gladney said in a press release.
Last week, the company reported that it raised $61 million in a new round of equity financing, according to an SEC filing.