The FDA today warned of potential risks associated with fluid-filled intragastric balloons, produced by ReShape Medical and Apollo Endosurgery, which are used to treat obesity. The federal watchdog said it has received multiple reports of 2 different types of adverse events associated with the balloons, including over-inflation requiring premature removal and the development of acute […]
Smith & Nephew (NYSE:SNN) said last week that CFO Julie Brown left the orthopedics & wound care company, after announcing her succession last July. Brown was named finance chief in November 2012 and assumed the role in February the following year. She is moving on to work as chief operating & financial officer for British luxury brand […]
Apollo Endosurgery and Lpath (NSDQ:LPTN) said yesterday that they closed a reverse merger in which Apollo put another $29 million into the combined company. Shares in the new company, which will adopt the Apollo Endosurgery name, are slated to begin trading today on the NASDAQ exchange under the APEN symbol. After a 1-for-5.5-share reverse split, there are about 10.7 […]
Apollo Endosurgery and Lpath Inc. (NSDQ:LPTN) said yesterday that they inked a reverse merger agreement that will see Apollo’s owners become majority owners of the pharmaceutical company. Apollo plans to put another $29 million into the combined company, which will adopt the Apollo Endosurgery name, but apply for a new Nasdaq ticker symbol. The investment will form part […]
Apollo Endosurgery said it picked software application platform developer Zillion to support its Orbera Coach program, which is designed to provide virtual aftercare support for patients undergoing Orbera gastric balloon weight loss procedures. Through the program, which is powered by Zillion’s digital health platform, Orbera patients can access personally tailored 12-month programs designed to develop healthy […]
Apollo Endosurgery spent $90 million-plus nearly two years ago to acquire the Lap-Band gastric band weight loss system and the in-development Orbera intra-gastric balloon from Allergan (NYSE: AGN). A well-trained, international sales force also came with the acquisition. Recently, I asked founder, president & chief commercial officer Dennis McWilliams if the investment was worth it, […]
Apollo Endosurgery said today it won FDA pre-market approval for its weight-loss focused Orbera intragastric balloon. The balloon device is designed to be inserted non-surgically in obese patients with body mass indexes of 30 to 40, the Austin, Texas-based company said. After insertion, the balloon is inflated to fill space in the stomach. “While new […]
Apollo Endosurgery said it secured a $50 million term loan from Athyrium Capital Management it plans to use to refinance its debt.