Obalon Therapeutics, a medical technology company that is developing gastric balloon technology for weight loss, has closed a $16.5m Series C round.
The company is developing a novel, non-surgical device for weight loss. It consists of a capsule containing a balloon that is swallowed and then remotely inflated. The balloon is intended to occupy space in the stomach to create a feeling of fullness to help people eat less. Additional balloons can be swallowed and inflated during the treatment period as indicated for weight loss. At the end of the treatment period, the balloons are removed.
Obalon received IDE approval from the FDA and has begun enrolling its first clinical study in the US to begin evaluating the safety and efficacy of the device. This was Obalon’s first submission to the FDA for a trial in the U.S. The Company has completed four clinical trials outside the US
Copyright © 2012 AltAssets