Natick firm Allurion Technologies raised $19 million of a $27.3 million offering from 45 investors, according to a regulatory filing. The offering made its 1st sale on Jan. 17.
The filing did not identify any of the offering’s investors, but disclosed that the financing included $1.1 million from three non-U.S. investors.
Allurion makes the ingestible Elipse gastric balloon for weight loss. The balloon is made of a thin, flexible polymer film and can be ingested as a swallowable capsule, eliminating the need for a surgical procedure. Once the balloon reaches the patient’s stomach, a doctor or nurse fills the balloon with liquid to make the patient feel full and eat less.
The Elipse balloon stays in the stomach for 4 months before automatically emptying and passing through the GI tract.
The device is for use in combination with a comprehensive weight loss program, according to Allurion.
The company’s CEO, Jonathan Wecker, declined to comment on its newly-acquired funds, according to the Boston Business Journal.
In December 2015, Allurion won CE Mark approval for its device in the European Union.
“Excess weight often has a profound impact on health and quality of life including work, relationships and self-perception. Weight loss therapies that require surgery, endoscopy, or anesthesia are often too invasive and can be too expensive for people who might otherwise greatly benefit from them,” chief scientific officer Dr. Shantanu Gaur said, following the company’s regulatory win.
The Elipse is available at weight loss centers in France, Italy and the U.K. The device has not yet garnered FDA approval for use in the U.S.
In a study involving 34 people with body mass indexes between 27 and 40, Allurion reported average weight loss of 22 pounds, with participants losing 37% of their excess weight and 8 cm off waist circumference during the 4-month treatment period.
“Our procedureless gastric balloon offers a simple, safe and effective alternative. Elipse is a new way for overweight and obese individuals to take action,” president Dr. Samuel Levy said.