ReShape Medical, a San Clemente, California-based weight loss-focused medical device company, closed a $38m Series D funding round.
The round was led by HealthCor Partners Management LP with participation from Endeavour Vision SA, SV Life Sciences, New Leaf Venture Partners, U.S. Venture Partners and Venture Investors.
The company intends to use the funds to support U.S. commercialization of its integrated dual balloon system following the recent approval by the U.S. Food and Drug Administration (FDA).
Led by Richard Thompson, President and CEO, ReShape Medical is a medical device company focused on the development and commercialization of its dual intragastric balloon, a weight loss procedure that provides a non-surgical option for adults with a BMI of 30-40 and a related health condition who haven’t succeeded at diet and exercise alone, and do not want or do not qualify for bariatric surgery.
The ReShape Procedure has been available in the European Union since December 2011.