ReShape Lifesciences® Signs Exclusive License Agreement With Biorad Medisys for Obalon® Gastric Balloon System
21 Septiembre 2023 - 7:31AM
ReShape Lifesciences Inc. (Nasdaq:
RSLS), the premier physician-led weight loss and metabolic
health solutions company, today announced the signing of an
exclusive, royalty-bearing license agreement with Biorad Medysis,
Pvt. Ltd. (Biorad) to manufacture, commercialize and distribute the
Obalon® Gastric Balloon System in India, Pakistan, Bangladesh,
Nepal, Bhutan, Sri Lanka, and the Maldives. Based in Mumbai, India,
Biorad is an established, science-driven medical device
manufacturer that has successfully manufactured and sold innovative
medical devices in the urology, gastroenterology, orthopedic and
neurovascular industries, which is now expanding into the bariatric
arena. The license agreement provides $200,000 in upfront payments
from Biorad to ReShape and ongoing license payments of 4% on gross
sales of the Obalon Balloon System in the territories.
“This exclusive agreement with Biorad represents
the first step towards reintroducing our patented Obalon Balloon
System technology to the global marketplace,” stated Paul F.
Hickey, President and Chief Executive Officer of ReShape
Lifesciences. “We believe that Biorad, with decades of experience
manufacturing and distributing medical devices in the vast South
Asia market, potentially reaching approximately 20% to 25% of the
world’s population, is an ideal partner to expand the reach of
ReShape’s Obalon technology. Our non-surgical, minimally invasive,
Obalon System was the first swallowable, gas filled balloon system
approved by the U.S. Food and Drug Administration, around which we
continue to build a strong intellectual property portfolio. We look
forward to a fruitful partnership with Biorad, which we expect will
lay the groundwork to catalyze the successful relaunch and joint
commercialization of the balloon system in markets world-wide.”
About ReShape
Lifesciences®ReShape Lifesciences® is America’s premier
weight loss and metabolic health-solutions company, offering an
integrated portfolio of proven products and services that manage
and treat obesity and metabolic disease. The FDA-approved Lap-Band®
System provides minimally invasive, long-term treatment of obesity
and is an alternative to more invasive surgical stapling procedures
such as the gastric bypass or sleeve gastrectomy. ReShapeCare™ is a
virtual weight-management program that supports lifestyle changes
for all weight loss patients led by board-certified health coaches
to help them keep the weight off over time. ReShape Marketplace™ is
an online collection of quality wellness products curated for all
consumers to help them achieve their health goals. The
investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system
utilizes a proprietary vagus nerve block and stimulation technology
platform for the treatment of Type 2 diabetes and metabolic
disorders. The Obalon® balloon technology is a non-surgical,
swallowable, gas-filled intra-gastric balloon that is designed to
provide long-lasting weight loss. For more information, please
visit www.reshapelifesciences.com.
Forward-Looking Safe Harbor
Statement This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Actual results could differ materially from
those discussed due to known and unknown risks, uncertainties, and
other factors. These forward-looking statements generally can be
identified by the use of words such as "expect," "plan,"
"anticipate," "could," "may," "intend," "will," "continue,"
"future," other words of similar meaning and the use of future
dates. Forward-looking statements in this press release include the
statements regarding our expectations for the successful relaunch
of the Obalon Balloon technology. These and additional risks and
uncertainties are described more fully in the company's filings
with the Securities and Exchange Commission, including those
factors identified as "risk factors" in our most recent Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
We are providing this information as of the date of this press
release and do not undertake any obligation to update any
forward-looking statements contained in this document as a result
of new information, future events or otherwise, except as required
by law.
CONTACTSReShape Lifesciences Investor
Contact:Thomas StankovichChief Financial
Officer949-276-6042ir@ReShapeLifesci.com
Investor Relations Contact:Rx
Communications GroupMichael
Miller(917)-633-6086mmiller@rxir.com
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