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 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 […]
Insulet taps former Medtronic finance exec McMillan as CFO | Personnel Moves – January 8, 2019
Insulet (NSDQ:PODD) said yesterday that it tapped former Medtronic minimally invasive therapies CFO and finance VP Wayde McMillan as its new chief financial officer, replacing Michael Levitz. The Acton, Mass.-based diabetes-focused medtech company said that McMillan will join the company in February and that Levitz will continue as an advisor for a period following the […]
Gerresheimer taps Metzner as CFO | Personnel Moves – December 14, 2018
Gerresheimer said late last month that it tapped Dr. Bernd Metzner as its new chief financial officer, set to take position at the latest by July 1 next year. Prior to joining the Dusseldorf-based company, Metzner acted as CFO at Ströer, a position he took up in June 2014. He also held positions at Bayer […]
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 […]
GI Dynamics wins FDA nod for pivotal US EndoBarrier trial
GI Dynamics (ASX:GID) said today it won FDA investigational device exemption approval to launch a pivotal trial of its EndoBarrier device designed for treating patients with type 2 diabetes and obesity, pending Institutional Review Board approval. The EndoBarrier device is a plastic gut sleeve designed to prevent the absorption of nutrients from food as it exits the stomach and […]
GI Dynamics inks $2m note and warrant deal
GI Dynamics (ASX:GID) said yesterday it inked an approximately $1.8 million note and warrant purchase deal with Crystal Amber Fund Limited, the company’s largest shareholder. The note offered in the deal will accrue 10% interest annually over five years unless the company defaults, at which the rate will be lifted to 16%, the Lexington, Mass.-based company […]
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