GI Dynamics today announced the results of a study of its EndoBarrier system that met efficacy and safety endpoints. Boston-based GI Dynamics designed its EndoBarrier endoscopically delivered device therapy as a non-surgical, alternative treatment for type 2 diabetes and obesity for patients who do not have adequate control of their conditions through their current medication […]
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GI Dynamics names new CEO
GI Dynamics (ASX:GID) announced that CEO & president Scott Schorer has departed and that Joseph Virgilio is assuming both roles. Virgilio, previously the company’s COO, took over as president & CEO on Nov. 2, with no changes made to his current compensation as of yet. GI Dynamics confirmed in a news release that Virgilio’s current executive […]
GI Dynamics announces $10m in financing
GI Dynamics (ASX:GID) announced yesterday that it agreed to terms of a financing of up to approximately $10 million with Crystal Amber (GBX:CRS) to continue developing its EndoBarrier device. EndoBarrier is a plastic sleeve designed treat Type 2 diabetes and obesity by preventing the absorption of nutrients from food as it exits the stomach and […]
GI Dynamics considers delisting from Australian exchange
GI Dynamics (ASX:GID) is considering delisting itself from the official list of the Australian Securities Exchange, according to a recently posted SEC filing. The option came as a proposal from the Lexington, Mass.-based company’s board of directors, set to be voted on at an upcoming stockholder meeting. GI Dynamics said that the consideration comes due to […]
GI Dynamics eyes CE Mark in 2020, reaps $2m in warrants exercise
GI Dynamics (ASX:GID) said it launched a pivotal trial of its EndoBarrier plastic gut sleeve, aiming to win back CE Mark approval next year, and raised the second tranche of a $10 million financing plan. The Boston-based company won approval for the trial in February to observe the EndoBarrier sleeve designed to prevent the absorption of […]
GI Dynamics touts results of U.K. study
GI Dynamics (ASX:GID) said a retrospective study of its EndoBarrier device for patients with type 2 diabetes and obesity shows a significant reduction in HbA1c, weight, liver fat and cardiovascular disease (CVD) risks as well as a reduction in the need for insulin in some patients. The EndoBarrier device is a plastic gut sleeve designed to […]
GI Dynamics wins IRB approval for pivotal U.S. EndoBarrier trial
GI Dynamics (ASX:GID) said yesterday it won Institutional Review Board approval to launch a pivotal trial of its EndoBarrier device exploring its ability to treat diabetes and obesity. The EndoBarrier device is a plastic gut sleeve designed to prevent the absorption of nutrients from food as it exits the stomach and enters the intestinal tract to treat type […]
GI Dynamics inks deal to launch Indian EndoBarrier trial
GI Dynamics (ASX:GID) said today it inked a deal with Apollo Sugar, a collaboration between Apollo Health & Lifestyle Limited and Sanofi, to jointly launch a safety and efficacy study of the EndoBarrier system in India. Through the deal, the groups will launch a clinical trial that aims to collect data from 100 randomized patients, with […]
GI Dynamics raises $3m
GI Dynamics (ASX:GID) said late last week that it closed the second tranche of a private placement, bringing in a total of $2.8 million through the issuance of CHESS Depository Interests. The company said that through the second tranche, it issued approximately 197.2 million CDIs, which represent 3.9 million shares of common stock, to “sophisticated and professional […]
GI Dynamics eyes 2019 EU market return for EndoBarrier
GI Dynamics (ASX:GID) said yesterday that it tapped a new notified body in Europe, nearly a year after losing CE Mark approval there, as it eyes a market return for its EndoBarrier device by the end of next year. In the European Union, notified bodies are used as part of the regulatory system to assess product […]
GI Dynamics raises $5 million for diabetes/obesity device
Investors have agreed to buy $5 million worth of GI Dynamics’ (ASX:GID) common stock, representing 6.9 million shares. The Lexington, Mass.-based company said it will use the money to fund the continued development of its EndoBarrier device and for general working capital. EndoBarrier is a plastic gut sleeve designed to treat type 2 diabetes and obesity […]
