Wednesday, August 26, 2015
ReShape Medical Raises $38M For Weight Loss Medical Device
San Clemente-based ReShape Medical, which develops a non-surgical, weight loss device, said today that it has raised $38M in a Series D funding round. The funding was led by HealthCor Partners Management, L.P., and also included Endeavor Vision SA, SV Life Sciences, New Leaf Venture Partners, U.S. Venture Partners and Venture Investors. ReShape, which is led by Richard Thompson, develops a medical device specifically targeted at obese patients who haven't succeeded in losing weight through diet and exercise, and who do not way or qualify for bariatric surgery. The company's weight loss device involves the use of baloons, which are inserved via an endoscope, occupying space in a patient's stomach--helping patients feel full and reducing food intake.