EnteroMedics Inc. (NASDAQ:ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced it has been named a 2017 Bronze Edison Award Winner by the internationally renowned Edison Awards™ in the Health and Wellness category for its vBloc® Neurometabolic Therapy for the treatment of obesity. The Edison Awards, inspired by Thomas Edison’s persistence and inventiveness, recognize innovation, creativity and ingenuity in the global economy. Award winners were announced April 20, 2017 at the Edison Awards Annual Gala in New York City.
“It’s exciting to see companies like EnteroMedics continuing Thomas Edison’s legacy of challenging conventional thinking,” said Frank Bonafilia, Edison Awards’ executive director. “Edison Awards recognizes the game-changing products and services, and the teams that brought them to consumers.”
Edison Award nominees are judged by more than 3,000 senior business executives and academics from across the nation whose votes acknowledge the Finalists’ success in meeting the award’s stringent criteria of quality. The Edison Awards is a program conducted by Edison Universe, a 501(c)(3) charitable organization dedicated to fostering future innovators. Past winners include Apple, Fitbit, General Electric, the Mayo Clinic, and Microsoft.
“We are honored that vBloc Therapy has been recognized by the Edison Awards for its innovative and cutting-edge approach to helping people battle obesity,” said Dan Gladney, EnteroMedics President, Chief Executive Officer and Chairman of the Board. “Having brought to market the first new medical device approved by the US Food and Drug Administration in over 10 years for the treatment of obesity, this award continues to validate the hard work and commitment we have undertaken to ensure those living with obesity have the best tools possible to help them achieve their goal of a healthier lifestyle.”
vBloc Therapy is approved for use in helping with weight loss in people aged 18 years and older who are obese, with a BMI of 40 to 45 kg/m2, or a BMI of 35 to 39.9 kg/m2 with a related health condition such as Type 2 diabetes, high blood pressure, high cholesterol levels or obstructive sleep apnea who have had a poor response to trying to lose weight under supervision in the last 5 years.
About the Edison Awards™
Originally established in 1987 by the American Marketing Association and now a global program conducted by Edison Universe, the Edison Awards™ have honored some of the world’s most innovative new products, services and business leaders. The Awards are named after Thomas Alva Edison (1847-1931), whose extraordinary new product development methods garnered him 1,093 U.S. patents and made him a household name around the world. Edison pioneered five industries which transformed our world, including the incandescent electric light and the distribution system for electrical power, the phonograph and recorded sound, the telephone transmitter, the electrical storage battery, and the motion-picture camera. The Edison Awards symbolize the persistence and excellence personified by Thomas Edison, while also strengthening the human drive for innovation, creativity, and ingenuity.
About EnteroMedics Inc.
EnteroMedics is a medical device company focused on the development and commercialization of its neuroscience based technology to treat obesity and metabolic diseases. vBloc® Neurometabolic Therapy, delivered by a pacemaker-like device called the vBloc® System, is designed to intermittently block the vagus nerves using high-frequency, low-energy, electrical impulses. EnteroMedics’ vBloc® System has received U.S. Food and Drug Administration approval and CE Mark.
Information about the vBloc® System and vBloc® Neurometabolic Therapy
You should not have an implanted vBloc® System if you have cirrhosis of the liver, high blood pressure in the veins of the liver, enlarged veins in your esophagus or a significant hiatal hernia of the stomach; if you need magnetic resonance imaging (MRI); if you have a permanently implanted, electrical medical device; or if you need a diathermy procedure using heat. The most common related adverse events that were experienced during clinical study of the vBloc System included pain, heartburn, nausea, difficulty swallowing, belching, wound redness or irritation, and constipation.
Talk with your doctor about the full risks and benefits of vBloc Therapy and vBloc System. For additional prescribing information, please visit www.enteromedics.com.
If you are interested in learning more about vBloc Neurometabolic Therapy, please visit www.vbloc.com or call 1-800-MY-VBLOC.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements about EnteroMedics Inc. Our actual results could differ materially from those discussed due to known and unknown risks, uncertainties and other factors including our limited history of operations; our losses since inception and for the foreseeable future; our limited commercial sales experience with our vBloc® System for the treatment of obesity in the United States or in any foreign market other than Australia and the European Community; our ability to maintain compliance with the Nasdaq continued listing requirements; our ability to commercialize our vBloc® System; our dependence on third parties to initiate and perform our clinical trials; the need to obtain regulatory approval for any modifications to our vBloc®System; physician adoption of our vBloc® System and vBloc® Neurometabolic Therapy; our ability to obtain third party coding, coverage or payment levels; ongoing regulatory compliance; our dependence on third party manufacturers and suppliers; the successful development of our sales and marketing capabilities; our ability to raise additional capital when needed; international commercialization and operation; our ability to attract and retain management and other personnel and to manage our growth effectively; potential product liability claims; potential healthcare fraud and abuse claims; healthcare legislative reform; and our ability to obtain and maintain intellectual property protection for our technology and products. These and additional risks and uncertainties are described more fully in the Company’s filings with the Securities and Exchange Commission, particularly those factors identified as “risk factors” in the annual report on Form 10-K filed March 8, 2017. 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.
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