Allurion nets $34M to market its swallowable weight-loss balloon
Summary
Gastric weight-loss balloon manufacturer Allurion Technologies has raised $34 million in new funding to boost its commercialization efforts and entry into the U.S. market, pending FDA approval. Allurion previously completed enrolling participants in a pivotal trial of its Elipse Balloon and outpatient procedure and plans to submit its premarket application to the FDA in the next 12 months. “We have experienced exponential growth over the past three years and with 2 billion people around the world who are overweight, we expect our rapid ascent to continue,” Allurion co-founder and CEO Shantanu Gaur said in a statement. It has previously been launched in at least 25 countries in Europe, South America and the Middle East, with about 20,000 devices shipped—including about half within the past year, according to the company. “Allurion’s cutting-edge approach to one of the world’s largest unmet medical needs has the company poised for long-term success,” said Marijn Dekkers, founder and chairman of Novalis LifeSciences and former CEO of Bayer and Thermo Fisher Scientific.