Bariatric Device Manufacturer to Relocate to New Albany

 Endosphere, a developer of an implantable and incisionless weight loss device, has announced plans to relocate its operations from California to New Albany. The company has qualified for Ohio’s Technology Investment Tax Credit and is in discussions with several Ohio angel investors. The company is seeking $2 million in a Series A round of investment which will be used to fund clinical studies.

Endosphere’s device, known as the SatisSphere, is inserted with an endoscope through a patient’s mouth and stomach, and then placed on the duodenum -- the upper part of the smaller intestine that breaks down food. The procedure takes about 15 minutes and doesn’t require any suturing or hooks to hold it in place. It is easily reversible and the device can be removed in five minutes.

For more information, see the story in MedCity News.