Obalon Announces Issuance of First U.S. Patent Covering Its Proprietary Navigation System

Date : 06/04/2019 @ 1:30PM
Source : GlobeNewswire Inc.
Stock : Obalon Therapeutics, Inc. (OBLN)
Quote : 0.606  0.0 (0.00%) @ 9:00AM

Obalon Announces Issuance of First U.S. Patent Covering Its Proprietary Navigation System

OBALON THERAPEUTICS INC (NASDAQ:OBLN)
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Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity, announces the issuance of U.S. Patent No. 10,264,995, entitled SYSTEMS AND METHODS FOR LOCATING AND/OR CHARACTERIZING INTRAGASTRIC DEVICES.

The first of its kind Obalon Navigation System provides the treating physician with the ability to place the Obalon Balloon without having to incur the costs and inconvenience of utilizing x-ray imaging. The Obalon Navigation System is portable, easy to use, non-invasive, radiation free, and provides dynamic tracking of the Obalon Balloon during placement.

The newly issued patent covers multiple aspects of the Obalon Navigation System, including dynamic tracking using internal and external sensors with an external electromagnetic field. 

“We believe this patent provides protection against anyone else entering the market, either with a gas-filled or liquid-filled balloon, that wants to use a similar system to avoid the extra costs and considerable logistics of using x-ray during placement,” said Mark Brister, Obalon’s Chief Technology Officer. 

Obalon now has 20 patents issued in the U.S. and 31 patents issued internationally that cover the Obalon Balloon System, with 25 and 55 pending patent applications in the U.S. and in international territories, respectively.

“We have used Obalons’ prior generation EzFill balloon, liquid filled balloons, and now the Obalon Navigation System,“ said Dr. Jeremias C. Tan, MD, Health and Wellness Services, Medical Director Gastroenterology Associates of Northern Virginia. “On average, Navigation balloon placements take about 15 minutes in our office. Automated inflation improves patient satisfaction and helps make placement of Navigation intragastric balloons more convenient for both the patient and the doctor. The Obalon Balloon System is a safe, effective and efficient solution for individuals with a BMI between 30 to 40 kg/m2 who are ready to lose weight and improve their overall health.”

About Obalon Therapeutics, Inc. Obalon Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based company focused on developing and commercializing novel technologies for weight loss. For more information, please visit www.obalon.com.

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Obalon Therapeutics, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause Obalon Therapeutics' future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Obalon Therapeutics undertakes no obligation to update or revise any forward-looking statements. For a description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Obalon Therapeutics' business in general, please refer to Obalon Therapeutics’ annual report on Form 10-K filed with the Securities and Exchange Commission on February 22, 2019, Form 10-Q filed with the Securities and Exchange Commission on May 10, 2019, and its future periodic reports filed with the Securities and Exchange Commission.

For Obalon Therapeutics, Inc.Investor Contact: William Plovanic President & Chief Financial Officer Obalon Therapeutics, Inc. Office: +1 760 607 5103 wplovanic@obalon.com

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