Latest news with #USPTO
Yahoo
2 days ago
- Business
- Yahoo
BioStem Announces Notice of Allowance for Three New U.S. Patent Applications
Expanding patent portfolio reinforces the Company's commitment to wound care innovation, with 55 issued patents and 52 pending applications POMPANO BEACH, Fla., May 28, 2025 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM), a leading MedTech company focused on the development, manufacturing, and commercialization of placental-derived products for advanced wound care, announces that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for two design patents and one utility patent covering the Company's novel fenestrated human placental allograft designs and compositions manufactured using the BioREtain® process. The United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for BioStem's Design Patent Application No. 29/860,417 for FENESTRATED HUMAN PLACENTAL ALLOGRAFT and for Design Patent Application No. 29/860,420 for FENESTRATED HUMAN PLACENTAL ALLOGRAFT. These patents pertain to novel and inventive fenestrated human placental allograft designs manufactured using the BioREtain process. The unique design allows wound exudate to pass through the graft and away from the wound without sacrificing allograft area, thereby facilitating drainage and providing an environment that is more conducive to healing. Additionally, the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for BioStem's Patent Application No. 18/926,867 for STERILE HUMAN PLACENTAL ALLOGRAFTS HAVING A PLURALITY OF SLITS, OPENINGS, AND/OR FENESTRATIONS FORMED THEREON. This patent pertains to novel and inventive fenestrated human placental allograft compositions manufactured using the BioREtain process with a unique fenestration that allows wound exudate to pass through the graft and away from the wound without sacrificing allograft area. The method of preparation preserves the structural and molecular integrity of the amnion and chorion tissues, thereby facilitating and enhancing wound treatment compared to conventional human placental allografts, particularly in the treatment of diabetic foot ulcers, dental wounds, and other topical Matuszewski, Chief Executive Officer of BioStem Technologies, commented: 'BioStem is actively expanding its patent portfolio to accelerate product innovation and drive the development of new products that elevate the standard of wound care. These newly granted patents play a pivotal role in the advancement of our next-generation placental allograft technologies and underscore the proprietary nature of our BioREtain process - designed to preserve the structural and molecular integrity of the placental tissue. By optimizing the retention and preservation of the amnion, intermediate, and chorion layers, we are able to offer clinicians solutions that support better outcomes and improve patient care. This continued innovation further solidifies BioStem's leadership in advanced wound care.' Join BioStem's Distribution List & Social Media: To follow the latest developments at BioStem, sign-up to the Company's email distribution list HERE, and follow us on X and LinkedIn. About BioStem Technologies, Inc. (OTC: BSEM):BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in advanced wound care, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies' quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks ('AATB'). These systems and procedures are established per current Good Tissue Practices ('cGTP') and current Good Manufacturing Processes ('cGMP'). Our portfolio of quality brands includes AmnioWrap2™, VENDAJE®, VENDAJE AC®, and VENDAJE OPTIC®. Each BioStem Technologies placental allograft is processed at the Company's FDA registered and AATB accredited site in Pompano Beach, Florida. For more information visit and follow us on X and LinkedIn. Forward-Looking Statements:Except for statements of historical fact, this release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as 'forecast,' 'intend,' 'seek,' 'target,' 'anticipate,' 'believe,' 'expect,' 'estimate,' 'plan,' 'outlook,' and 'project' and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: (1) the impact of any changes to the reimbursement levels for the Company's products; (2) the Company faces significant and continuing competition, which could adversely affect its business, results of operations and financial condition; (3) rapid technological change could cause the Company's products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete;(4) to be commercially successful, the Company must convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; (5) the Company's ability to raise funds to expand its business; (6) the Company has incurred significant losses since inception and may incur losses in the future; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (9) the Company's ability to maintain production of its products in sufficient quantities to meet demand; and (10) the COVID-19 pandemic and its impact, if any, on the Company's fiscal condition and results of operations; You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Contact BioStem Technologies, Inc.:Phone: 954-380-8342Website: info@ @BSEM_TechFacebook: BioStemTechnologies Investor Relations:Adam HoldsworthE-Mail: adam@ 917-497-9287
Hypebeast
3 days ago
- Entertainment
- Hypebeast
Vetements Too "Generic" to Be Trademarked in the US
Last week,Demna-founded Swiss labelVetementslost its years-long battle to trademark its brand name in the US. According to a report fromThe Fashion Law,the U.S. Court of Appeals for the Federal Circuit affirmed the U.S. Patent and Trademark Office's (USPTO) refusals for 'VETEMENTS to be trademarked on May 21, stating that the term 'vetements,' the French word for 'clothing,' is generic when used for garments and retail services. Due to French being a commonly spoken and taught language in the U.S., and the word 'vetements' is directly descriptive of the clothing goods at issue, the court affirmed the Board's decision, according to the report. Regardless of the brand's acquired significance, the USPTO will not accept any further evidence supporting the appeal. The brand, started by siblings Demna andGuram Gvasaliain 2014, attempted to secure a U.S. trademark registration for apparel and online retail services in 2020. The decision lands with a dose of irony given the brand's satirical themes, often playing off of logos and recognizable images from various sects of culture. For example, last year Vetements sent modelGigi Hadiddown the runway in a DHL duct tape dress, referencing an earlier collection from the label. However, Demna left the brand in 2019, and Guram has remained the artistic directorr for more than 10 years since 2014. Even Demna's tenure atBalenciaga, now coming to a close, has been subject to controversy for copyright infringement. Stay tuned to Hypebeast for the latest fashion industry news.
Time of India
7 days ago
- Time of India
From Helmets to Mind Maps: Reclaiming focus in a distracted world
Ravindra Kondekar, an alumnus of IIT Bombay, spent more than 27 years working in the Indian technology industry. He has worked in software development for the Department of Space and for many multinational corporations. He is also the inventor of 4 Patents granted by USPTO. Today, he works as a productivity consultant, helping others reach their full potential by working smartly to the best of their abilities. His teaching experience early in his career, MBA education, and senior management roles in corporate add to his ability to quickly grasp the productivity problems faced by his clients and coach them on best practices for personal productivity. LESS ... MORE 'Perhaps the most difficult thing that a human being is called upon to face is long, concentrated thinking.' – Hugo Gernsback, inventor and science fiction pioneer, writing in the 1920s …And that hasn't changed. Whether you're a software developer designing a complex system, a UX designer crafting a seamless experience, an artist conceptualizing your next piece, or a blogger crafting this post (me ) — focused thinking remains the backbone of meaningful work. To protect that focus, Gernsback invented The Isolator in 1925 — a strange helmet that blocked sound, light, and even oxygen to help the wearer concentrate. Fascinating? Yes. Practical? Not quite. But do we have something better today? Fortunately, yes. Especially when you're trying to break down a complex project, plan meaningful actions, and bring your full focus to the task at hand — there's a tool that rises to the occasion. That tool is the Mind Map — practical, visual, and surprisingly powerful. Popularized by Tony Buzan, the Mind Map was designed to tap into memory, creativity, and understanding. But one thing it definitely delivers is focus. Its true usefulness lies in the mindfulness required to create it. You can't Mind Map on autopilot. It compels you to slow down, make connections, and visualize the bigger picture — making it a surprisingly effective way to brainstorm and shape a clear, actionable plan for your projects. It's like a thought processor — taking in your jumbled ideas and outputting a structured, prioritized list of actionable tasks. How Mind Maps Help Deconstruct complex projects into manageable parts Clarify each step on the path to achieving your goals — main or minor Channel your full attention where and when it matters most Generate a focused to-do list with clearly defined, actionable tasks And when it comes to action planning, the Mind Map naturally encourages what Nobel laureate Daniel Kahneman called slow thinking — the deliberate, focused, and reflective kind of thought that leads to better decisions and clearer outcomes. A little while back, I was reinvited to a podcast by Prina Shah on the topic of why the time-blocking method doesn't work for many people. I had to create content for my talk — and what else would I do but start with a mind map? As the mind map evolved, so did my content. It became richer, more structured, and clearer. In the end, I delivered the episode with confidence — thanks to the clarity the mind mapping process brought me. In a world that demands speed, mind mapping invites you to pause — not to delay, but to think clearly before you move. And sometimes, that's all the difference between scatter and strategy. Try it for your next project — especially one of those tough nuts you've been avoiding. See what happens when you give your brain the structure it craves. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
Geek Wire
22-05-2025
- Business
- Geek Wire
Tech Alliance study: R&D imbalance threatens state's innovation sector as public investment lags
Washington patent filings fell 23.4% from 2018 to 2023 — nearly five times the national average decline — despite the state's strong investment in research and development. Source: USPTO / Technology Alliance Benchmarking Report Washington ranks among the nation's top three states in business R&D spending, but weaker public investment is threatening the innovation ecosystem — a gap reflected in declining patent activity and limited startup diversity. That is one of the key takeaways in the 2025 Benchmarking Report from the Technology Alliance, which says Washington is relying too heavily on private companies to drive innovation, while public investment and basic research fall behind. Washington leads most states in private-sector research spending, with business R&D accounting for 98.6% of total R&D investment. That strength is not matched by academic and federal contributions, which make up less than 1.5% combined. Patent filings in Washington state have dropped 23% in five years, and the number of patents issued has fallen nearly 59%, raising concerns about the long-term output of the state's innovation pipeline. The report also notes that Washington's startup activity remains heavily concentrated in IT and healthcare, with fewer ventures emerging from basic science, clean energy, advanced materials, or other research-driven sectors. Washington's R&D spending climbed sharply after 2017 to reach 8% of state GDP by 2021. Source: Science & Engineering State Indicators / Technology Alliance Benchmarking Report That narrow focus, the report warns, could make the state less resilient to future economic cycles without greater investment in foundational research and public-sector support. Washington is in the top three states with R&D spending equal to 8% of the state's gross domestic product, said Chelsea Tucker, managing director at Accenture, presenting the findings at this week's Technology Alliance State of Technology Luncheon in downtown Seattle. 'We should be really proud of where we rank in R&D,' she said. 'When I read that, I really had to make sure my eyes weren't going cross. I think that's staggering.' However, as an indicator, she called the trends in patent filings a cause for concern. 'What do we need to do to guarantee that the organizations investing in R&D are motivated to continue?' Tucker said. 'I think we need to be introspective … to make sure that those R&D investments don't go down.' Chelsea Tucker, managing director at Accenture, presents findings from the 2025 Innovation Benchmarking Report at the Technology Alliance State of Technology Luncheon in Seattle. (Photo by Melissa Ponder for the Technology Alliance) The report calls for greater public investment in academic and federal research to help balance Washington's heavy reliance on private-sector R&D, while expanding support for basic research. The report also urges state leaders to maintain a competitive business environment to keep corporate R&D dollars in Washington and support continued economic growth. The report provided a backdrop for business and policy leaders — including Microsoft President Brad Smith — to call for renewed public investment and stronger innovation policy during the event. But the recommendations face a harsh reality of federal spending cuts and a shaky state economy. Washington is grappling with a $16 billion budget shortfall, leading to new business taxes and prompting the state to scale back key economic development programs. This year's version of the Benchmarking Report was authored by Ananya Yashasvi, the William H. Gates Sr. Fellow in Innovation and Entrepreneurship at the Technology Alliance, with guidance from Martin Stoddart, a managing director at Accenture. Accenture, the University of Washington, and Microsoft also contributed data and expertise to the report. See this year's report and past versions here.
Yahoo
21-05-2025
- Business
- Yahoo
ReShape Lifesciences® Reports First Quarter Ended March 31, 2025 Financial Results and Provides Corporate Update
Merger Agreement With Vyome Therapeutics and Asset Purchase Agreement with Biorad Medisys Progress Towards Completion IRVINE, Calif., May 21, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today reported financial results for the first quarter ended March 31, 2025 and provided a corporate strategic update. First Quarter 2025 and Subsequent Highlights May 2025: Effected a 1-for-25 reverse stock split of the company's common stock, which was effective for trading purposes upon the commencement of trading on May 9, 2025. May 2025: Presented pre-clinical data on its proprietary Diabetes Neuromodulation device in a poster presentation at the 12th Annual Minnesota Neuromodulation Symposium. Jonathan J. Waataja, Ph.D., Director of Research at ReShape Lifesciences®, presented the data in a poster presentation entitled, Stimulation of the Posterior Sub-Diaphragmatic Vagal Trunk Reverses Insulin-Induced Severe Hypoglycemia in a Swine Model of Type 1 Diabetes Mellitus. April 2025: Received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for patent application 18/241,151, entitled, 'Intragastric Device.' When issued, the patent will cover claims for an intragastric balloon system, comprising a swallowable capsule with a self-sealing fill valve and a degradable release valve designed to deflate and open the valve around three months after inflation with saline liquid, and configured for natural excretion after deflation, among other claim features. Once issued, the patent will provide protection into at least January 2031, without accounting for a potential Patent Term Extension (PTE). April 2025: Received a Notice of Allowance from the 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. April 2025: Announced an agreement with Haifa, Israel-based Motion Informatics to exclusively import and distribute their next-generation neuromuscular rehabilitation devices in the U.S. The flagship product, the Stimel-03, was showcased at the American Occupational Therapy Association 2025 Annual Conference and Expo, held April 3-5, 2025, in Philadelphia, PA. March 2025: Received a Notice of Allowance from the 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. February 2025: Signed a distribution agreement with Liaison Medical for ReShape's next generation, enhanced Lap-Band® 2.0 FLEX and Tubing Kit, in Canada. February 2025: Closed an upsized $6.0 million public offering. February 2025: Granted a key international patent from the State of Israel Patent Office for the company's Diabetes Neuromodulation technology. Patent Number 277949, entitled, 'Simultaneous Multi-Site Vagus Nerve Modulation for Improved Glycemic Control Systems and Methods,' will provide protection until December 4, 2039. January 2025: Provided an update on the definitive merger agreement under which ReShape and Vyome will combine in an all-stock transaction. The combined company will focus on advancing the development of Vyome's immuno-inflammatory assets and on identifying additional opportunities between the world-class Indian innovation corridor and the U.S. market. ReShape also provided an update on the asset purchase agreement with Biorad Medisys. On July 8, 2024, ReShape Lifesciences Inc. entered into a definitive merger agreement with Vyome, under which ReShape and Vyome will combine in an all-stock transaction. At the closing of the merger, ReShape will be renamed Vyome Holdings, Inc. and expects to trade under the Nasdaq ticker symbol "HIND," representing the company's alignment with the U.S.-India relationship. The board of directors of the combined company will be comprised of six directors designated by Vyome and one director designated by ReShape, and executive management of the combined company will consist of Vyome's executive officers. Simultaneously with the execution of the merger agreement, ReShape entered into an asset purchase agreement with Biorad, which was amended on April 25, 2025, which is party to a previously disclosed exclusive license agreement with ReShape for ReShape's Obalon® Gastric Balloon System. Pursuant to the asset purchase agreement, ReShape will sell substantially all of its assets to Biorad (or an affiliate thereof), including ReShape's Lap-Band® System, Obalon® Gastric Balloon System and the Diabetes Bloc-Stim Neuromodulation™ (DBSN™) System (but excluding cash), and Biorad will assume substantially all of ReShape's liabilities. The cash purchase price under the asset purchase agreement will count toward ReShape's net cash for purposes of determining the post-merger ownership allocation between ReShape and Vyome stockholders under the merger agreement. "The first quarter of 2025 and the months that followed have marked a period of strong momentum for ReShape, both operationally and strategically,' stated Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences®. 'We continued to expand access to our portfolio of physician-led, minimally invasive weight-loss solutions, highlighted by a new distribution agreement with Liaison Medical to launch our enhanced Lap-Band® 2.0 FLEX to the Canadian market. This partnership, following our Health Canada approval in late 2024, is a significant milestone in delivering effective, less-invasive alternatives to bariatric surgery to broader global patient base. We also expanded our product portfolio through an exclusive U.S. distribution agreement for Motion Informatics' next-generation neuromuscular rehabilitation devices, further broadening our portfolio of innovative medical devices. 'At the same time, we strengthened our leadership in diabetes innovation by presenting promising pre-clinical data on our Diabetes Neuromodulation device at the 12th Annual Minnesota Neuromodulation Symposium, in a featured poster presentation, showcasing the potential of our proprietary vagus neuromodulation technology platform. Further strengthening our position, the Diabetes Neuromodulation system received significant intellectual property protection, including multiple Notices of Allowance from the USPTO and a pivotal international patent from the Israel Patent Office. These patents extend our intellectual property coverage through at least 2039, underscoring our leadership in addressing both Type 1 and Type 2 diabetes through neuromodulation and its close association with obesity. We also received a Notice of Allowance for our intragastric device patent, which covers a next-generation, self-deflating, swallowable balloon system—an important addition to our metabolic health platform. As our patent portfolio grows, we remain committed to protecting our position and, when appropriate, will pursue strategic, non-dilutive funding to support this objective.' Mr. Hickey concluded, 'The successful completion of our $6.0 million public offering in February strengthens our financial foundation as we continue to execute on our growth initiatives. Finally, we are making continued progress toward finalizing our merger with Vyome and the asset sale to Biorad Medisys. The S-4 was recently declared effective and we are working to set the record date in the near future. Our Board unanimously supports this transformative transaction, which we believe will unlock long-term value for shareholders and drive accelerated growth for the newly combined company." First Quarter Ended March 31, 2025, Financial and Operating Results Revenue $1.1 million for the three months ended March 31, 2025, which represents a contraction of 42.7%, or $0.8 million compared to the same period in 2024. This primarily resulted from a decrease in sales volume primarily due to GLP-1 pharmaceutical weight-loss alternatives as well as a temporary pause in DTC marketing programs. Gross Profit for the three months ended March 31, 2025 and 2024, was $0.7 million, and $1.2 million, respectively. Gross profit as a percentage of total revenue for the three months ended March 31, 2025, was 61.2% compared to 59.9% for the same period in 2024. The increase in gross profit percentage is due to the reduction in overhead related costs, primarily payroll. Sales and Marketing Expenses for the three months ended March 31, 2025, decreased by $0.5 million, or 48.1%, to $0.5 million, compared to $1.0 million for the same period in 2024. The decrease is primarily due to a decrease in advertising and marketing expenses, including consulting and professional marketing services. General and Administrative Expenses for the three months ended March 31, 2025, decreased by approximately $0.3 million, or 13.1%, to $1.6 million, compared to $1.9 million for the same period in 2024. The decrease is primarily due to a $0.4 million reduction in general legal, audit, and other professional fees, as the Company reduced its reliance on consultants and professional services to conserve cash. Research and Development Expenses for the three months ended March 31, 2025, decreased by $0.1 million, or 24.8% to $0.4 million, compared to approximately $0.5 million for the same period in the prior year. Transaction Costs for the three months ended March 31, 2025, were $0.4 million. These expenses primarily consisted of legal and audit-related fees incurred in connection with the Company's pending merger and asset sale. Gain on changes in fair value of liability warrants for the three months ended March 31, 2025 of $3.7 million is related to the change in fair value of liability-classified warrants issued in connection with the Company's February 2025 public offering. The gain recognized in the quarter reflects the decrease in the fair value of the warrants between the issuance date and March 31, 2025. Cash and Cash Equivalents as of March 31, 2025 were $2.6 million, including restricted cash. 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 vagal neuromodulation 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 Non-GAAP DisclosuresIn addition to the financial information prepared in conformity with GAAP, we provide certain historical non-GAAP financial information. Management believes that these non-GAAP financial measures assist investors in making comparisons of period-to-period operating results. Management believes that the presentation of this non-GAAP financial information provides investors with greater transparency and facilitates comparison of operating results across a broad spectrum of companies with varying capital structures, compensation strategies, and amortization methods, which provides a more complete understanding of our financial performance, competitive position, and prospects for the future. However, the non-GAAP financial measures presented in this release have certain limitations in that they do not reflect all of the costs associated with the operations of our business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. Further, the non-GAAP financial measures presented by the company may be different from similarly named non-GAAP financial measures used by other companies. Adjusted EBITDAManagement uses Adjusted EBITDA in its evaluation of the company's core results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. Adjusted EBITDA is defined as net loss before interest, taxes, depreciation and amortization, stock-based compensation, and other one-time costs. Management uses Adjusted EBITDA in its evaluation of the company's core results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. Further, the non-GAAP financial measures presented by the company may be different from similarly named non-GAAP financial measures used by other companies. Additional Information In connection with the proposed Merger and Asset Sale, ReShape plans to file with the Securities and Exchange Commission (the 'SEC') and mail or otherwise provide to its stockholders a 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 when they become available because they will contain important information about ReShape, Vyome and the proposed transactions. Investors and stockholders may obtain a free copy of these materials (when they are available) 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. Participants in the Solicitation This document does not constitute a solicitation of proxy, an offer to purchase or a solicitation of an offer to sell any securities of ReShape and its directors, executive officers and certain other members of management and employees may be deemed to be participants in soliciting proxies from its stockholders in connection with the proposed Merger and Asset Sale. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of ReShape's stockholders in connection with the proposed Merger and Asset Sale will be set forth in joint proxy statement/prospectus if and when it is filed with the SEC by ReShape and Vyome. Security holders may obtain information regarding the names, affiliations and interests of ReShape's directors and officers in ReShape's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on April 4, 2025. To the extent the holdings of ReShape securities by ReShape's directors and executive officers have changed since the amounts set forth in ReShape's proxy statement for its most recent annual meeting of stockholders, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding these individuals and any direct or indirect interests they may have in the proposed Merger and Asset Sale will be set forth in the joint proxy statement/prospectus when and if it is filed with the SEC in connection with the proposed Merger and Asset Sale, at ReShape's website at Forward-Looking Statements Certain statements contained in this filing may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Merger and Asset Sale and the ability to consummate the Merger and Asset Sale. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as 'believes,' 'plans,' 'anticipates,' 'projects,' 'estimates,' 'expects,' 'intends,' 'strategy,' 'future,' 'opportunity,' 'may,' 'will,' 'should,' 'could,' 'potential,' or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and ReShape undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (1) ReShape may be unable to obtain stockholder approval as required for the proposed Merger and Asset Sale; (2) conditions to the closing of the Merger or Asset Sale may not be satisfied; (3) the Merger and Asset Sale may involve unexpected costs, liabilities or delays; (4) ReShape's business may suffer as a result of uncertainty surrounding the Merger and Asset Sale; (5) the outcome of any legal proceedings related to the Merger or Asset Sale; (6) ReShape may be adversely affected by other economic, business, and/or competitive factors; (7) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement or Asset Purchase Agreement; (8) the effect of the announcement of the Merger and Asset Purchase Agreement on the ability of ReShape to retain key personnel and maintain relationships with customers, suppliers and others with whom ReShape does business, or on ReShape's operating results and business generally; and (9) other risks to consummation of the Merger and Asset Sale, including the risk that the Merger and Asset Sale will not be consummated within the expected time period or at all. Additional factors that may affect the future results of ReShape are set forth in its filings with the SEC, including ReShape's most recently filed Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC, which are available on the SEC's website at specifically under the heading 'Risk Factors.' The risks and uncertainties described above and in ReShape's most recent Annual Report on Form 10-K are not exclusive and further information concerning ReShape and its business, including factors that potentially could materially affect its business, financial condition or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements, and not to place undue reliance on any forward-looking statements. Readers should also carefully review the risk factors described in other documents that ReShape files from time to time with the SEC. The forward-looking statements in these materials speak only as of the date of these materials. Except as required by law, ReShape assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. CONTACTS: ReShape Lifesciences Contact:Paul F. HickeyPresident and Chief Executive Officer949-276-7223ir@ Investor Relations Contact:Rx Communications GroupMichael Miller(917)-633-6086mmiller@ RESHAPE LIFESCIENCES Consolidated Balance Sheets (in thousands, except share amounts)(unaudited) March 31, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 2,515 $ 693 Restricted cash 100 100 Accounts and other receivables (net of allowance for doubtful accounts of $871 and $918 respectively) 734 987 Inventory 2,532 2,460 Prepaid expenses and other current assets 414 348 Total current assets 6,295 4,588 Property and equipment, net 34 38 Operating lease right-of-use assets 99 116 Deferred tax asset, net 26 22 Other assets 29 29 Total assets $ 6,483 $ 4,793 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 1,686 $ 2,208 Accrued and other liabilities 2,158 1,688 Warranty liability, current 163 163 Debt, current portion — 811 Operating lease liabilities, current 116 115 Total current liabilities 4,123 4,985 Operating lease liabilities, noncurrent 14 41 Common stock warrant liability 1,116 20 Total liabilities 5,253 5,046 Commitments and contingencies (Note 2 and Note 10) Stockholders' equity (deficit): Preferred stock, 10,000,000 shares authorized: Series C convertible preferred stock, $0.001 par value; 95,388 shares issued and outstanding at March 31, 2025 and December 31, 2024 — — Common stock, $0.001 par value; 300,000,000 shares authorized at March 31, 2025 and December 31, 2024; 133,081 and 29,235 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively — — Additional paid-in capital 642,570 642,555 Accumulated deficit (641,230 ) (642,704 ) Accumulated other comprehensive loss (110 ) (104 ) Total stockholders' equity (deficit) 1,230 (253 ) Total liabilities and stockholders' equity (deficit) $ 6,483 $ 4,793 RESHAPE LIFESCIENCES INC. Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts)(unaudited) Three Months Ended March 31, 2025 2024 Revenue $ 1,113 $ 1,944 Cost of revenue 432 779 Gross profit 681 1,165 Operating expenses: Sales and marketing 529 1,019 General and administrative 1,627 1,872 Research and development 364 484 Transaction costs 367 — Total operating expenses 2,887 3,375 Operating loss (2,206 ) (2,210 ) Other expense (income), net: Interest expense (income), net 40 (9 ) Gain on changes in fair value of liability warrants (3,661 ) (21 ) Gain on extinguishment of debt (24 ) — Loss on foreign currency exchange, net 12 24 Other income, net (54 ) (25 ) Income (loss) before income tax provision 1,481 (2,179 ) Income tax expense 7 14 Net income (loss) $ 1,474 $ (2,193 ) Net income (loss) per share - basic and diluted: Net income (loss) per share - basic and diluted $ 18.98 $ (135.37 ) Shares used to compute basic and diluted net income (loss) per share 77,668 16,200 The following table contains a reconciliation of GAAP net income (loss) to Adjusted EBITDA attributable to common stockholders for the three months ended March 31, 2025 and 2024 (in thousands): Three Months Ended March 31, 2025 2024 GAAP net income (loss) $ 1,474 $ (2,193 ) Adjustments: Interest expense (income), net 40 (9 ) Income tax expense 7 14 Depreciation and amortization 4 6 Stock-based compensation expense 15 72 Transaction costs 367 — Gain on changes in fair value of liability warrants (3,661 ) (21 ) Gain on extinguishment of debt (24 ) — Adjusted EBITDA $ (1,778 ) $ (2,131 )Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
