EnteroMedics (NSDQ:ETRM) has raised $61 million in a new round of equity financing, according to an SEC filing posted this week. Money in the round comes from 13 anonymous investors, with the 1st sale noted on October 2, according to the filing. Funds raised represent the value of common stock issued or convertible from Series C […]
EnteroMedics Inc.
EnteroMedics acquires ReShape Medical in $38m cash-and-stock deal
EnteroMedics (NSDQ:ETRM) said today that it acquired ReShape Medical in a cash-and-stock deal worth about $38 million. The deal called for St. Paul, Minn.-based EnteroMedics to pay $5 million in cash, plus 2.4 million shares of stock and nearly 188,000 series C convertible shares. At yesterday’s closing price of $1.79 per ETRM share, the stock shares […]
Enteromedics closes $18m preferred stock offering
EnteroMedics (NSDQ:ETRM) said it closed its recent public preferred stock offering, raising a total of $18.1 million which is slated to support continued commercialization efforts, clinical and product development and general corporate purposes. In the offering, the company sold preferred stock units at $1,000 per unit, with each consisting of 1 share of Series B convertible […]
EnteroMedics prices $20m preferred stock offering
EnteroMedics (NSDQ:ETRM) today priced an upcoming underwritten public offering looking to raise $20 million to support continued commercialization and product development. In the offering, the company will offer units at $1,000 per unit, with each consisting of 1 share of Series B convertible preferred stock, convertible into 435 shares of common stock at $2.30 per share, and […]
Enteromedics wins approval for Gastric Vest study in Spain
EnteroMedics (NSDQ:ETRM) said today it won approval from Spain’s Ministry of Health, Social Services and Equality to initiate a clinical trial of its Gastric Vest system in Spain. The Gastric Vest system is a minimally invasive, laparoscopically implanted device designed to aid obese and morbidly obese patients lose weight. The device wraps around the stomach to emulate […]
EnteroMedics inks deal with Verily-GSK JV Galvani Bioelectronics
EnteroMedics (NSDQ:ETRM) said today it inked a collaborative deal with Galvani Bioelectronics, a joint venture between GlaxoSmithKline (NYSE:GSK) and Alphabet‘s (NSDQ:GOOGL) Verily Life Sciences, through which Galvani will use a modified vBloc system for pre-clinical research. St. Paul, Minn.-based said it will receive payments for its development under the agreement, and that it will retain rights, title and […]
EnteroMedics jumps pre-market on BarioSurg buyout
EnteroMedics (NSDQ:ETRM) said today that it acquired BarioSurg and the gastric vest it developed to treat obesity, sending share prices surging in pre-market trading. The BarioSurg device is designed to be implanted via laparoscopy to wrap the stomach and emulate the effects of conventional bariatric surgery by temporarily reducing the stomach’s volume. St. Paul, Minn.-based […]
EnteroMedics, So Cal Permanente Medical ink deal for Maestro diabetes trial
EnteroMedics (NSDQ:ETRM) said last week it inked a deal with Southern California Permanente Medical Group to initiate a study investigating the use of its Maestro vBloc system for treating Type 2 diabetes patients with obesity. The Maestro device is an implantable neurostimulation device designed to intermittently block the vagus nerves using high-frequency, low-energy impulses. The therapy, which the […]
EnteroMedics touts long-term data for vBloc therapy
EnteroMedics (NSDQ:ETRM) said today that 3-year data from a study of its vBloc neurometabolic therapy in obese patients with type II diabetes were published in the Journal of Diabetes and Obesity. The St. Paul, Minn.-based company’s vBloc system is designed to intermittently block the vagus nerve using high-frequency, low-energy electrical impulses. The therapy is approved in the […]
EnteroMedics closes $19m offering
EnteroMedics (NSDQ:ETRM) said today it closed an underwritten public offering of Class A units, raising $19 million, including a fully-exercised underwriters over-allotment option. The St. Paul, Minn.-based company floated a total 751,412 units of common stock, 12,531 units of preferred stock convertible into 2.4 million shares of common stock, and warrants to purchase an additional 3.1 […]
EnteroMedics prices $17m offering
EnteroMedics (NSDQ:ETRM) priced today its underwritten public offering at $16.5 million, offering class A units priced at $5.31 apiece and class B units at $1,000 apiece. Each class A unit consists of 1 share of common stock and a 5-year warrant to purchase 1 share of common stock with an exercise price of $5.84 per […]
