Latest news with #ReShapeLifesciences®
Business Wire
3 days ago
- Business
- Business Wire
ReShape Lifesciences Announces Shareholder Approval of Merger with Vyome Therapeutics
IRVINE, Calif.--(BUSINESS WIRE)--ReShape Lifesciences ® (Nasdaq: RSLS) announced today that its shareholders have approved all of the proposals necessary to complete the previously announced merger with Vyome Therapeutics, which is expected to be effective for the commencement of trading on Friday, August 15, 2025. The shares of common stock of the combined company are expected to commence trading on The Nasdaq Capital Market under the name Vyome Holdings, Inc. and the trading symbol "HIND." 'Vyome's vision is expansive with several promising assets and we are focused on building a healthcare platform spanning the US-India innovation corridor,' said Krishna Gupta, Chairman of Vyome. 'We look forward to trading as a public company under the meaningful ticker symbol 'HIND', which we expect to be on India's Independence Day – August 15. We have a very entrepreneurial and established board and management team, and we have a deep focus on creating value for our new and existing shareholders.' 'We are grateful for the overwhelming support from our shareholders for this merger with Vyome and the sale of our assets to Biorad Medisys. Vyome is well-positioned for success, and we believe this transaction offers a compelling opportunity for our shareholders as Vyome pursues its growth strategy as a Nasdaq-listed public company,' said Paul Hickey, Chief Executive Officer of ReShape. Maxim Group LLC is serving as financial advisor to ReShape in connection with the transactions and Fox Rothschild LLP is acting as its legal counsel. Chardan is serving as financial advisor to Vyome for the merger and Sichenzia Ross Ference Carmel LLP is acting as its legal counsel. About ReShape Lifesciences ® ReShape Lifesciences ® is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band ® System provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system utilizes a proprietary vagus nerve block and stimulation technology platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon ® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit About Vyome Vyome Therapeutics is building a healthcare platform spanning the US-India innovation corridor. Vyome's immediate focus is leveraging its clinical-stage assets to transform the lives of patients with immuno-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. To learn more, please visit Forward-Looking Statements Certain statements contained in this document are "forward-looking statements." Examples of such statements include, but are not limited to, statements relating to the anticipated timing and completion of the proposed merger and the combined company's listing on the Nasdaq Stock Market after closing of the proposed merger. ReShape and/or the combined company may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, risks and uncertainties associated with the ability to consummate the proposed merger through the process being conducted by the parties. ReShape disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made.
Yahoo
24-07-2025
- Business
- Yahoo
ReShape Lifesciences® Announces Partial Adjournment of Special Meeting of Stockholders
Partial Adjournment for Proposal 2, Asset Sale Proposal, and Proposal 3, Charter Amendment Proposal; All Other Proposals Required for Merger Were Approved Stockholders are encouraged to vote FOR Proposals 2 and 3 by Calling 1-877-750-8310 (from the U.S. and Canada) or +1-412-232-3651 (from other countries) IRVINE, Calif., July 24, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences® (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that it conducted a Special Meeting of Stockholders and partially adjourned the meeting for Proposal 2, the proposal to approve the sale of substantially all of ReShape's assets to Ninjour Health International Limited, an affiliate of Biorad Medisys, Pvt. Ltd. (Asset Sale Proposal), and Proposal 3, the proposal to approve and adopt proposed amendments to ReShape's certificate of incorporation in connection with ReShape's proposed merger (Merger) with Vyome Therapeutics, Inc. (Charter Amendment Proposal). All other proposals required for the Merger were approved by stockholders. ReShape adjourned the Special Meeting of Stockholders with respect to the Asset Sale Proposal and Charter Amendment Proposal to allow additional time to solicit proxies with respect to these proposals. Approval of the Asset Sale Proposal and the Charter Amendment Proposal are conditions to the consummation of the Merger. Addressing the Company's stockholders, Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences, noted, 'Our ability to complete the Merger, which we believe will maximize value for our stockholders, is contingent upon approval of the Asset Sale Proposal and the Charter Amendment Proposal. Your vote for the Asset Sale Proposal is key to the Merger, and your vote for the Charter Amendment Proposal is important for the operation of the combined company following the Merger.' The Special Meeting of Stockholders will resume with respect to the Asset Sale Proposal and the Charter Amendment Proposal on Thursday, August 7, 2025 at 11:30 a.m. Eastern Time. The reconvened meeting will be held virtually at The record date for determining stockholders eligible to vote at the Special Meeting of Stockholders remains the same, June 9, 2025. ReShape encourages all stockholders of record as of June 9, 2025 that have not yet submitted proxies to submit proxies in favor of the Asset Sale Proposal and the Charter Amendment Proposal and to do so promptly. Those who voted against these proposals are asked to please reconsider their votes based on the factors described in this press release. The proxy statement for the Special Meeting of Stockholders of ReShape filed on June 24, 2025 contains important information, and this press release should be read in conjunction with the proxy statement, which, along with other relevant materials, is available at no charge at the U.S. Securities and Exchange Commission's website and at the Company's website YOUR VOTE IS VERY IMPORTANT!Stockholders can vote by telephone, or via the follow the easy instructions on the proxy card or voting instruction form previously sent. For any questions or assistance in voting shares, please call our proxy solicitor, INNISFREE M&A INCORPORATEDTOLL-FREE, at 1-877-750-8310 (from the U.S. and Canada)or +1-412-232-3651 (from other countries) About Vyome Vyome Therapeutics is building a healthcare platform spanning the US-India innovation corridor. Vyome's immediate focus is leveraging its clinical-stage assets to transform the lives of patients with immune-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. Based in Cambridge, MA, the company has announced its intent to be listed on the Nasdaq exchange under the ticker 'HIND' pursuant to a reverse merger with ReShape Lifesciences Inc. (Nasdaq: RSLS) in early 2025. To learn more, please visit About Biorad MedisysBiorad Medisys Pvt. Ltd.® is a rapidly growing med-tech company dedicated to redefining healthcare standards with precision-engineered medical devices backed by rigorous scientific research. It operates three business units – Indovasive, Orthovasive and Neurovasive. Indovasive offers consumables and equipment in Urology and Gastroenterology. The Orthovasive segment sells a complete range of Knee and Hip implants for both Primary and Revision surgeries. It has recently forayed into Neurovascular BU for selling a wide portfolio of products in peripheral vascular, neurovascular and rehabilitation segments. It has two manufacturing facilities in India and is currently exporting to 50+ countries. To realize its global expansion strategy, it recently acquired a Swiss based company, Marflow, which specializes in commercialization of products in Urology & Gastroenterology. About ReShape Lifesciences® ReShape Lifesciences® is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band® System provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system utilizes a proprietary vagus nerve block and stimulation technology platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit Forward-Looking Safe Harbor Statement This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission (SEC), including those factors identified as "risk factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law. Additional InformationIn connection with the proposed Merger and sale of assets to Ninjour Health International Limited, an affiliate of Biorad Medisys Pvt. Ltd. (Asset Sale), ReShape filed with the SEC on June 24, 2025 and mailed or otherwise provided to its stockholders the joint proxy statement/prospectus (joint proxy statement/prospectus) and other relevant documents in connection with the proposed Merger and Asset Sale. Before making a voting decision, ReShape's stockholders are urged to read the joint proxy statement/prospectus and any other documents filed by ReShape with the SEC in connection with the proposed Merger and Asset Sale or incorporated by reference therein carefully and in their entirety because they contain important information about ReShape, Vyome and the proposed transactions. Investors and stockholders may obtain a free copy of these materials and other documents filed by ReShape with the SEC at the SEC's website at at ReShape's website at or by sending a written request to ReShape at 18 Technology Drive, Suite 110, Irvine, California 92618, Attention: Corporate Secretary. CONTACTSReShape Lifesciences Investor Contact:Paul F. HickeyPresident and Chief Executive Officer949-276-7223ir@ Investor Relations Contact:Rx Communications GroupMichael Miller(917)-633-6086mmiller@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
24-07-2025
- Business
- Yahoo
ReShape Lifesciences® Announces Partial Adjournment of Special Meeting of Stockholders
Partial Adjournment for Proposal 2, Asset Sale Proposal, and Proposal 3, Charter Amendment Proposal; All Other Proposals Required for Merger Were Approved Stockholders are encouraged to vote FOR Proposals 2 and 3 by Calling 1-877-750-8310 (from the U.S. and Canada) or +1-412-232-3651 (from other countries) IRVINE, Calif., July 24, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences® (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that it conducted a Special Meeting of Stockholders and partially adjourned the meeting for Proposal 2, the proposal to approve the sale of substantially all of ReShape's assets to Ninjour Health International Limited, an affiliate of Biorad Medisys, Pvt. Ltd. (Asset Sale Proposal), and Proposal 3, the proposal to approve and adopt proposed amendments to ReShape's certificate of incorporation in connection with ReShape's proposed merger (Merger) with Vyome Therapeutics, Inc. (Charter Amendment Proposal). All other proposals required for the Merger were approved by stockholders. ReShape adjourned the Special Meeting of Stockholders with respect to the Asset Sale Proposal and Charter Amendment Proposal to allow additional time to solicit proxies with respect to these proposals. Approval of the Asset Sale Proposal and the Charter Amendment Proposal are conditions to the consummation of the Merger. Addressing the Company's stockholders, Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences, noted, 'Our ability to complete the Merger, which we believe will maximize value for our stockholders, is contingent upon approval of the Asset Sale Proposal and the Charter Amendment Proposal. Your vote for the Asset Sale Proposal is key to the Merger, and your vote for the Charter Amendment Proposal is important for the operation of the combined company following the Merger.' The Special Meeting of Stockholders will resume with respect to the Asset Sale Proposal and the Charter Amendment Proposal on Thursday, August 7, 2025 at 11:30 a.m. Eastern Time. The reconvened meeting will be held virtually at The record date for determining stockholders eligible to vote at the Special Meeting of Stockholders remains the same, June 9, 2025. ReShape encourages all stockholders of record as of June 9, 2025 that have not yet submitted proxies to submit proxies in favor of the Asset Sale Proposal and the Charter Amendment Proposal and to do so promptly. Those who voted against these proposals are asked to please reconsider their votes based on the factors described in this press release. The proxy statement for the Special Meeting of Stockholders of ReShape filed on June 24, 2025 contains important information, and this press release should be read in conjunction with the proxy statement, which, along with other relevant materials, is available at no charge at the U.S. Securities and Exchange Commission's website and at the Company's website YOUR VOTE IS VERY IMPORTANT!Stockholders can vote by telephone, or via the follow the easy instructions on the proxy card or voting instruction form previously sent. For any questions or assistance in voting shares, please call our proxy solicitor, INNISFREE M&A INCORPORATEDTOLL-FREE, at 1-877-750-8310 (from the U.S. and Canada)or +1-412-232-3651 (from other countries) About Vyome Vyome Therapeutics is building a healthcare platform spanning the US-India innovation corridor. Vyome's immediate focus is leveraging its clinical-stage assets to transform the lives of patients with immune-inflammatory conditions. By applying groundbreaking science and its unique positioning across the US-India innovation corridor, Vyome seeks to deliver lasting value to shareholders in a hyper cost-efficient manner while upholding global standards of quality and safety. Based in Cambridge, MA, the company has announced its intent to be listed on the Nasdaq exchange under the ticker 'HIND' pursuant to a reverse merger with ReShape Lifesciences Inc. (Nasdaq: RSLS) in early 2025. To learn more, please visit About Biorad MedisysBiorad Medisys Pvt. Ltd.® is a rapidly growing med-tech company dedicated to redefining healthcare standards with precision-engineered medical devices backed by rigorous scientific research. It operates three business units – Indovasive, Orthovasive and Neurovasive. Indovasive offers consumables and equipment in Urology and Gastroenterology. The Orthovasive segment sells a complete range of Knee and Hip implants for both Primary and Revision surgeries. It has recently forayed into Neurovascular BU for selling a wide portfolio of products in peripheral vascular, neurovascular and rehabilitation segments. It has two manufacturing facilities in India and is currently exporting to 50+ countries. To realize its global expansion strategy, it recently acquired a Swiss based company, Marflow, which specializes in commercialization of products in Urology & Gastroenterology. About ReShape Lifesciences® ReShape Lifesciences® is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band® System provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system utilizes a proprietary vagus nerve block and stimulation technology platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit Forward-Looking Safe Harbor Statement This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission (SEC), including those factors identified as "risk factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law. Additional InformationIn connection with the proposed Merger and sale of assets to Ninjour Health International Limited, an affiliate of Biorad Medisys Pvt. Ltd. (Asset Sale), ReShape filed with the SEC on June 24, 2025 and mailed or otherwise provided to its stockholders the joint proxy statement/prospectus (joint proxy statement/prospectus) and other relevant documents in connection with the proposed Merger and Asset Sale. Before making a voting decision, ReShape's stockholders are urged to read the joint proxy statement/prospectus and any other documents filed by ReShape with the SEC in connection with the proposed Merger and Asset Sale or incorporated by reference therein carefully and in their entirety because they contain important information about ReShape, Vyome and the proposed transactions. Investors and stockholders may obtain a free copy of these materials and other documents filed by ReShape with the SEC at the SEC's website at at ReShape's website at or by sending a written request to ReShape at 18 Technology Drive, Suite 110, Irvine, California 92618, Attention: Corporate Secretary. CONTACTSReShape Lifesciences Investor Contact:Paul F. HickeyPresident and Chief Executive Officer949-276-7223ir@ Investor Relations Contact:Rx Communications GroupMichael Miller(917)-633-6086mmiller@ Sign in to access your portfolio
Yahoo
21-04-2025
- Health
- Yahoo
ReShape Lifesciences® Receives Notice of Allowance for Additional U.S. Patent Related to Its Proprietary Diabetes Neuromodulation Technology
Vagal Neuromodulation Offers a Novel Approach to Treating Type 2 Diabetes and Hypoglycemia Patent Enables Equivalent Efficacy with 10 times Lower Energy Consumption Than Current Device Fully Compatible with Standard Implantable Pulse Generators, Enabling Cost-Effective Development IRVINE, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences® (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that the Company has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for patent application 18/069,689, entitled, 'High-Frequency Low Duty Cycle Patterns for Neural Regulation.' When issued, the patent will provide protection until August 4, 2037. The Diabetes Neuromodulation system leverages its proprietary vagus nerve block (vBloc™) technology platform, along with vagus nerve stimulation, to treat Type 2 diabetes, a prominent disorder linked with obesity. 'Type 2 diabetes remains a global health challenge and continues to be difficult to treat effectively, despite the range of available medications, surgical options, and dietary interventions,' stated Jonathan Waataja, Ph.D. Director of Research at ReShape Lifesciences®. 'Our Diabetes Neuromodulation technology addresses this by regulating blood glucose through targeted vagal nerve modulation, specifically, blocking and stimulating signals to the liver and pancreas. This patent will cover discontinuous high-frequency signals with interwoven micro- and millisecond pauses, forming an energy-efficient algorithm that 'taps' the nerve with bursts of stimulation to achieve a blocking effect. By using approximately 10 times less energy than traditional continuous signals, the system enables the use of smaller batteries or devices and allows for longer intervals between charges. Preclinical testing on rat vagus nerves has demonstrated equivalent efficacy to continuous signals, while remaining fully compatible with standard implantable pulse generators, which will allow for cost-effective development. To date, our team has successfully completed preclinical development, harnessing bioelectronic technology to personalize treatment, boost insulin production, and manage blood glucose levels. This innovation shows strong promise for the treatment of both type 2 diabetes and hypoglycemia.' 'The recent allowance of this patent—coming shortly after the Notice of Allowance received in March—further reinforces the promise of our groundbreaking Neuromodulation technology. Designed to personalize diabetes management, this innovation has demonstrated the potential to reduce reliance on medications by optimizing glucose control. In doing so, it aims to lower overall treatment costs and decrease complications associated with poor blood sugar management and medication non-compliance,' stated Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences. 'Similar to other patent families within ReShape, the Diabetes Neuromodulation technology is backed by a strong intellectual property portfolio, consisting of 63 issued or pending patents. These patents span key areas such as vagal neuromodulation, glucose regulation, artificial intelligence, and Bluetooth-enabled applications—collectively securing a clear path to commercialization and offering robust protection against competitive threats.' About The ReShape Diabetes Neuromodulation DeviceThe ReShape Diabetes Neuromodulation system (formerly, Diabetes Bloc-Stim Neuromodulation™) (DBSN™) is a novel minimally invasive therapeutic implant concept that delivers bio-electronic neuromodulation of vagus nerve branches that are innervating organs which regulate plasma glucose. The system stimulates vagus celiac fibers of the pancreas to release insulin during stimulation, while blocking the hepatic vagal branch, innervating the liver, to decrease glucose release and decrease insulin resistance following ligation. The system utilizes a proprietary, reversable and adjustable electrical blockade that may represent the future of personalized medicine. Reshape Lifesciences believes its system is superior to both standalone stimulation of the vagus nerve, and vagus nerve ligation which has undesirable side effects and causes irreversible damage to the nerve. About ReShape Lifesciences®ReShape Lifesciences® is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band® and Lap-Band® 2.0 Flex Systems provide minimally invasive, long-term treatment of obesity and are an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The Obalon® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit As previously announced ReShape has entered into an asset purchase agreement with Biorad Medisys, Pvt. Ltd., pursuant to which ReShape has agreed to sell substantially all of its assets to Biorad (or an affiliate thereof), including ReShape's Lap-Band® System, Obalon® Gastric Balloon System and the DBSN™ system (but excluding cash). Therefore, at the closing of the transactions contemplated by the asset purchase agreement, the DBSN™ system will be owned by Biorad. Forward-Looking Safe Harbor Statement This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. Forward-looking statements in this press release include statements about the promise of the Diabetes Neuromodulation technology and the potential path to commercialization of the technology. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as "risk factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law. CONTACTSReShape Lifesciences Investor Contact:Paul F. HickeyPresident and Chief Executive Officer949-276-7223ir@ Investor Relations Contact:Rx Communications GroupMichael Miller917-633-6086mmiller@ in to access your portfolio
Associated Press
10-03-2025
- Health
- Associated Press
ReShape Lifesciences® Receives Notice of Allowance for U.S. Patent Related to Its Proprietary Diabetes Neuromodulation Technology
IRVINE, Calif., March 10, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences® (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that the Company has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for patent application 17/046,677, entitled, 'Simultaneous Multi-Site Vagus Nerve Modulation for Improved Glycemic Control System and Methods.' When issued, the patent will provide protection until April 12, 2039. The Diabetes Neuromodulation system leverages its proprietary vagus nerve block (vBloc™) technology platform, along with vagus nerve stimulation, to treat Type 2 diabetes, a prominent disorder linked with obesity. 'Allowance for this newest patent, on the heels of the recently announced Israeli patent, serves as strong evidence of the promise of this groundbreaking technology, which has shown the potential to reduce dependence on medications for diabetics through a personalized approach. By optimizing glucose control, the technology aims to lower treatment costs and minimize complications related to poorly managed blood sugar and medication non-compliance,' stated Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences®. 'Like other patent families within ReShape, the Diabetes Neuromodulation technology is supported by a robust intellectual property portfolio, comprising 62 issued or pending patents. These cover vagal neuromodulation, glucose control, AI, and Bluetooth applications, ensuring a clear path to commercialization while providing strong protection against competitive threats.' 'Type 2 diabetes is a worldwide issue and continues to be difficult to treat effectively, despite the availability of medication, surgery, and dietary interventions,' stated Jonathan Waataja, Ph.D. Director of Research at ReShape Lifesciences. 'ReShape's Diabetes Neuromodulation technology regulates blood glucose by selectively modulating vagal block and stimulation to the liver and pancreas. Studies have shown improved glycemic control in both a Zucker rat model of Type 2 Diabetes Mellitus (T2DM) and an alloxan-treated swine model of T2DM. To date, our team has successfully completed the pre-clinical development of the device, employing bioelectronics to optimize insulin production and manage blood glucose levels in a personalized manner, with the potential to treat Type 2 diabetes and hypoglycemia.' About The ReShape Diabetes Neuromodulation Device The ReShape Diabetes Neuromodulation system (formerly, Diabetes Bloc-Stim Neuromodulation™ (DBSN™) is a novel minimally invasive therapeutic implant concept that delivers bio-electronic neuromodulation of vagus nerve branches that are innervating organs which regulate plasma glucose. The system stimulates vagus celiac fibers of the pancreas to release insulin during stimulation, while blocking the hepatic vagal branch, innervating the liver, to decrease glucose release and decrease insulin resistance following ligation. The system utilizes a proprietary, reversable and adjustable electrical blockade that may represent the future of personalized medicine. Reshape Lifesciences believes its system is superior to both standalone stimulation of the vagus nerve, and vagus nerve ligation which has undesirable side effects and causes irreversible damage to the nerve. About ReShape Lifesciences® ReShape Lifesciences® is America's premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band® and Lap-Band® 2.0 Flex Systems provide minimally invasive, long-term treatment of obesity and are an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The Obalon® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit As previously announced ReShape has entered into an asset purchase agreement with Biorad Medisys, Pvt. Ltd., pursuant to which ReShape has agreed to sell substantially all of its assets to Biorad (or an affiliate thereof), including ReShape's Lap-Band® System, Obalon® Gastric Balloon System and the DBSN™ system (but excluding cash). Therefore, at the closing of the transactions contemplated by the asset purchase agreement, the DBSN™ system will be owned by Biorad. Forward-Looking Safe Harbor Statement This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as 'expect,' 'plan,' 'anticipate,' 'could,' 'may,' 'intend,' 'will,' 'continue,' 'future,' other words of similar meaning and the use of future dates. Forward-looking statements in this press release include statements about the promise of the Diabetes Neuromodulation technology and the potential path to commercialization of the technology. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as 'risk factors' in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law. CONTACTS Paul F. Hickey 949-276-7223 [email protected] Investor Relations Contact: Rx Communications Group Michael Miller 917-633-6086
