GI Dynamics inked a deal for distribution of its EndoBarrier anti-obesity and Type II diabetes device in the United Kingdom.
The Lexington, Mass.-based firm said Hungerford, England-based Elemental Healthcare will distribute the device, a gut liner designed to inhibit the absorption of food to induce weight loss and help control the symptoms of diabetes, in England, Wales, Scotland, Northern Ireland and Ireland.
GI Dynamics CEO Stuart Randle said the deal, which gives Elemental Healthcare limited rights to sell the EndoBarrier in those territories, comes ahead of commercialization for the device in other European markets later this year.
The company won CE Mark approval for the device in the European Union late last year. GI Dynamics and Elemental Healthcare are setting up "Centers of Excellence" to train physicians on using the device, providing exclusive access to the EndoBarrier over the next several months, according to a press release.
Last week GI Dynamics put personnel in place to manage the commercialization of its flagship device, naming Wade Fox vice president of marketing and tapping Karl Blohm for its newly created vice president of international position.
Earlier this year, Medtronic Inc. (NYSE:MDT) made a $15 million strategic investment in GI Dynamics.
