Weight-loss devices startup Allurion Technologies closed a $1.7 million funding round, according to the company’s 1st reported filing with the SEC.
The Wellesley, Mass.-based company is working on a balloon, compressed into a swallowable pill, that expands in the stomach.
The balloon remains in the stomach, creating feelings of fullness, until the patient swallows an non-toxic agent that dissolves the balloon. .
"Because it’s cheaper and less invasive, we think our device will be accessible to people less overweight than required to qualify for other procedures like lap band," CEO Jonathan Wrecker said in an interview with the Boston Herald earlier this year. "The market for moderately obese and obese people would be tens of billions worldwide."
Allurion, founded in 2009, has previously received $750 million in grants from the Massachusetts Life Sciences Center.
The latest funding round was spread among 25 investors, according to the regulatory filing.