Allurion Kicks It up a Notch with New Funding and Personnel

Allurion has been making some pretty strong moves in the obesity treatment market over the past few days. The Natick, MA-based company recently announced significant funding and the hiring of several key personnel. These measures are being taken to help the company gain FDA approval for the Elipse Balloon for weight loss, and expand its presence outside the U.S. Allurion, which MD+DI once named as one of 5 Obesity Startups You Should Know, raised $34 million in new funding through a securities financing and a growth capital term loan. The round was led by Novalis LifeSciences and Romulus Capital with participation from IDO Investments and ex-Covidien CEO Jose Almeida. The financing also includes a growth capital term loan from Bridge Bank. In terms of personnel, Allurion announced the addition of Whitney Cypes as VP of Global Marketing and Chris Aronson as VP of North American Sales and the promotion of Benoit Chardon to executive VP of Commercial. “Allurion has developed a best-in-class program to help people lose weight and stay healthy around the world,” Dr. Shantanu Gaur, Allurion’s co-founder and CEO, said in a release. “I am looking forward to working with these new additions to our team as we enter our next phase of rapid growth.” These measures are a few months removed from Allurion completing enrollment from the ENLIGHTEN Pivotal trial. The firm said it plans to submit its PMA t...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news