GI Dynamics just took another step forward on its path to treat obesity and diabetes
Health & Biotech
Health & Biotech
Medical device researcher GI Dynamics (ASX: GID) wants to help treat diabetes and obesity.
And the company got some good news this week from the UK National Health Service.
From October 2014 to November 2018, the NHS ran tests on GI Dynamics’ patented EndoBarrier treatment on a total of 61 patients.
The results from the study were released last week:
“The data show a significant reduction in HbA1c, weight, liver fat and cardiovascular disease (CVD) risks as well as a reduction in the need for insulin in some patients,” GI Dynamics said.
While it marks another step forward in the company’s product testing, commercialisation still looks to be a fair way down the track.
The EndoBarrier product isn’t yet approved for sale, and remains limited to investigational use only. Shares in the company were unchanged at 1.5 cents in morning trade.
Endoscopy is the practice of using a tube with a camera lens to inspect, or in this case deliver a device, inside the body without performing major surgery.
The EndoBarrier technology is an ‘endoscopically delivered’ implant in the intestine that regulates hormones in a similar way to a gastric bypass.
GI Dynamics is headquartered in Boston and has been around since 2003 with a focus on alleviating symptoms of Type 2 diabetes and obesity.
The company’s annual report released earlier this week showed that operationally, it remains as a vehicle used for research and investigation processes.
GI booked no revenue in the 2018 financial year, and reported a net loss of around $8 million. As at December 31, the company reported cash holdings of $3.8 million.