Apollo Endosurgery Announces First Commercial Shipment of the OverStitch™ Sx Endoscopic Suturing System
November 27 2018 - 4:00PM
Business Wire
Apollo Endosurgery, Inc. (“Apollo”) (Nasdaq:APEN), a global
leader in less invasive medical devices for bariatric and
gastrointestinal procedures, announced today the first commercial
shipments of the OverStitch™ Sx Endoscopic Suturing System. These
initial customer shipments launch the first phase of the global
product launch for Overstitch Sx.
This first phase will be a limited launch with select
gastroenterologists and bariatric surgeons in both the United
States and European Union through the end of 2018. The full
commercial launch is planned in the 1st quarter of 2019.
Flexible endoscopic suturing using Apollo’s OverStitch™
Endoscopic Suturing System is now established as an important tool
for both surgeons and gastroenterologists that enables a wide array
of new endolumenally performed patient treatment options. The
OverStitch Sx is designed for compatibility with single-channel
endoscopes with diameters ranging from 8.8mm to 9.8mm, and
therefore provides more physicians with access to the benefits of
full-thickness flexible endoscopic suturing regardless of their
hospital’s selection of endoscopic capital equipment or endoscope
manufacturer.
“OverStitch Sx builds on the clinical success of OverStitch and
adds features that will enhance and simplify the user’s experience.
The product is designed to achieve full thickness tissue purchases
easier and more consistently, increase the physician’s field of
vision, and improve maneuverability when compared to the current
OverStitch which operates on a dual channel scope,” said
Christopher Gostout, MD, Chief Medical Officer at Apollo
Endosurgery. “By incorporating all required ancillary channels for
device operation in the product, the endoscope channel is left open
for use of additional instrumentation. This feature allows
physicians the opportunity to be more efficient and versatile in
their procedures.”
About OverStitch™ Sx
The OverStitch™ Sx endoscopic suturing systems enable advanced
endoscopic surgery by allowing physicians to place full-thickness
sutures from a single-channel flexible endoscope. This new
technology enables a secure approximation of tissue endoscopically
and a wide range of less invasive solutions for physicians who
treat defects in both the upper and lower GI tract of their
patients. Additionally, physicians are leveraging endoscopic
suturing to perform a variety of advanced bariatric procedures.
About Apollo Endosurgery, Inc.
Apollo Endosurgery, Inc. is a medical technology company focused
on less invasive therapies for the treatment of obesity, a
condition facing over 650 million people globally, as well as other
gastrointestinal conditions. Apollo’s device based therapies are an
alternative to invasive surgical procedures, thus lowering
complication rates and reducing total healthcare costs. Apollo's
products are offered in over 70 countries today and include the
OverStitch™ Endoscopic Suturing System, the ORBERA® Intragastric
Balloon, and the LAP-BAND® Adjustable Gastric Banding System.
Apollo’s common stock is traded on Nasdaq Global Market under
the symbol "APEN." For more information regarding Apollo, go to:
www.apolloendo.com.
© 2018 Apollo Endosurgery, Inc. All rights reserved. Any
third-party trademarks used herein are the property of their
respective owners.
Cautionary Note on Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that are subject to risks and uncertainties that could
cause results to be materially different than expectations.
Important factors that could cause actual results to differ
materially include: reports of adverse events related to our
products, developments in medical technology, regulatory approvals
and extensive regulatory oversight by the FDA or other regulatory
bodies, unfavorable media coverage related to our products or
related procedures, reimbursement decisions by private or
government payors, physician adoption and recommendations of
procedures utilizing our products and other factors detailed from
time to time in the reports Apollo files with the Securities and
Exchange Commission, or SEC, including its Form 10-K for the year
ended December 31, 2017, and its Form 10-Q for the three months
ended September 30, 2018. Copies of reports filed with the SEC are
posted on Apollo’s website and are available from Apollo without
charge. These forward-looking statements are not guarantees of
future performance and speak only as of the date hereof, and,
except as required by law, Apollo disclaims any obligation to
update these forward-looking statements to reflect future events or
circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20181127005710/en/
Media Contact:Jen Cook,
512-279-5158jen.cook@apolloendo.comInvestor Contacts:John
Gillings, 512-279-5100Investor Relations
Managerinvestor-relations@apolloendo.com
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