Early-stage medical device developer Epitomee Medical said today that it raised $8 million in a new round of equity financing to support its novel Epitomee Capsule “shapeshifting” pill intended to prevent diabetes and promote weight loss.
The Israel-based company said that its Epitomee Capsule contains a shape-shifting scaffold that, after it is ingested, helps the body have an early sensation of fullness and prolonged gastric emptying through direct mechanosensory stimulation.
The pills are designed to be taken twice a day to lower caloric intake and promote weight loss, Epitomee Medical said.
“The Epitomee solution is a novel practical approach in the fight against the global obesity epidemic. The combination of a simple, self-administered capsule and a high degree of safety and effectiveness makes it an optimal solution to this epidemic. The new partnership and this financing provide Epitomee with the resources to complete its next phase clinical trial and reach a significant value inflection point,” co-founder & chair Dr. Shimon Eckhouse said in a prepared statement.
Data from an initial clinical study of the capsule indicated that the device met its endpoints and showed weight loss and glycemic control improvement, as well as ameliorated blood pressure levels and no safety concerns within 12 weeks of treatment.
“The Epitomee Capsule has the potential to be the first-line, drug-free treatment for overweight, prediabetic, and moderately obese people. We are excited that it is well received, and that patients and physicians see excellent and consistent results in our clinical work. With the current financing, we can advance the clinical program and bring the company’s solutions closer to the millions of patients in need,” CEO Dr. Dan Hashimshony said in a press release.