The award designates EndoSphere as one of the world’s top privately-held medical technology companies.
Boston, MA (PRWEB) October 03, 2012
Today EndoSphere was selected as this year’s Fierce 15 Award Winner, named by FierceMedicalDevices. The “Fierce 15” list identifies “the most promising privately-held medical device companies in the world”. The award was announced live today onstage at the Boston Convention and Exhibition Center during AdvaMed 2012, one of the medtech industry’s largest events. Editors Mark Hollmer and Damian Garde, in conjunction with Editor-in-Chief John Carroll and Executive Editor Ryan McBride, chose this year’s winners based on selection criteria including top management teams, notable financial backing, and promising technologies and market opportunities. Accepting the award on behalf of EndoSphere was the company's chairman, Christopher Thorne. The award designates EndoSphere as one of the world’s top privately-held medical technology companies.
Garde said, “EndoSphere’s exciting device, the Satisphere™ System, presents a non-surgical solution for the millions of people struggling to lose weight, demonstrating to be less invasive than bariatric surgery and more effective than diet and exercise.”
EndoSphere was named to the Fierce 15 list based, in part, on EndoSphere’s creativity and game-changing innovations in the industry. EndoSphere’s portfolio of intellectual property assets includes 29 issued and pending U.S. and international patents. The company’s flagship product, the SatiSphere™ System, is a noninvasive treatment for one of the world's largest health issues: metabolic diseases including obesity and type II diabetes. The SatiSphere System is an endoscopically-insertable device that improves the regulation of appetite and satiety by using the body’s natural physiology. Treatment using the SatiSphere device is incisionless, reversible and repeatable. Clinical studies have shown that the SatiSphere System enables obese patients to achieve significant weight loss without invasive surgery or medication. The device has received CE Mark regulatory approval for commercialization in 31 countries.
Worldwide obesity rates have become staggering. According to the Centers for Disease Control (CDC), obesity rates increased so dramatically during the past decade that 35 percent of Americans are obese today. More than 400 million people in the U.S. and Europe collectively suffer from being overweight or obese. Annual healthcare-related costs attributed to obesity and its co-morbidities have been estimated at $147 billion.
EndoSphere is a portfolio company of Broadline Capital, a global private equity investment group, and co-investors including Ohio TechAngel Funds II and III, Glengary LLC, Physician Investment Group, Co-Investment Fund, North Coast Angel Fund II, QCA First Fund III, and EI Millstream Investment LLC.
“FierceMedicalDevices is recognized for its advanced understanding of medical device companies and the industry as a whole,” said EndoSphere CEO James T. McKinley. “Being selected as a member of the ‘Fierce 15’ is an honor that highlights EndoSphere’s potential to make a significant and positive impact in the medical devices market.”
An internationally recognized e-newsletter publication reaching more than 34,000 medical device and diagnostic industry professionals, FierceMedicalDevices provides subscribers with a quick authoritative briefing on the day's top stories, with a special focus on clinical studies, FDA/EMEA regulations, and post-marketing.
EndoSphere Inc. is a pioneer of endoscopically-insertable medical technologies for the treatment of metabolic diseases including obesity and type II diabetes. The company has developed a portfolio of intellectual property assets including 29 issued and pending U.S. and international patents. For more information, visit http://www.EndoSphereInc.com.
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