Segulah Medical Acceleration Announces Investment in Allurion Technologies

Segulah Medical Acceleration Announces Investment in Allurion Technologies

Segulah Medical Acceleration AB (“SMA”) has made a minority investment in US-based Allurion Technologies during their July 2021 extension of the $34m Series D financing. The Series D round was led by Novalis LifeSciences and Romulus Capital.

Allurion is commercializing an innovative, scalable, and trusted weight loss experience internationally. The company has been active commercially since 2016 and closed their series D financing to accelerate international growth, which continues to grow strongly. Allurion has since started a pivotal clinical trial in the US with the objective of obtaining approval from the U.S. Food and Drug Administration (FDA), and then to launch their revolutionary weight loss program in the United States.

Worldwide, 2 billion people are overweight or obese. In the US, 35% of all adults are obese, and an additional 34% are overweight. This excess weight can lead to comorbidities such as type 2 diabetes, hypertension, and heart disease causing great suffering to patients and significant costs to the society. However, less than 1% of patients diagnosed as obese resort to surgical or other device-based interventions, despite the availability of several treatment options. To make effective weight loss more available at a reasonable cost, Allurion has developed the Elipse Balloon – a procedure-less weight loss device (intra-gastric balloon) that is designed to be both swallowed and removed without surgery, endoscopy, or anaesthesia.

The Elipse Balloon is made of a thin, flexible polymer film. The device is swallowed in a capsule and subsequently filled with liquid using a thin delivery catheter. The balloon is designed to remain in the stomach for approximately four months, after which it opens, allowing it to empty and pass naturally from the body without the need for a removal procedure. Together with the balloon, Allurion has developed the Elipse Program to help patients to monitor their progress through Allurion’s Bluetooth smart scale and smartphone application.
Allurion received their CE mark late 2015 and has since then successfully established themselves commercially in Europe, the Middle East and South America. Allurion has grown revenues strongly every year since 2016 and currently generates in the order of $50 million in last twelve months sales.

“We are pleased to have partnered with the Allurion team as they continue to rapidly progress on their expansion plans internationally. The Allurion team has developed a unique and highly differentiated weight loss device, which they have built into a high performing company and a compelling patient-centric device/app ecosystem. We look forward to a potential US FDA approval, which would be transformative given the size and untapped growth potential of the US weight loss market. Allurion has a world class management team. Their focus and relentless commercialexecution bodes well for the opportunity to build Elipse into a standard of care device” said Roger Gunnarsson, Managing Partner at SMA.

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For more information about Segulah Medical Acceleration, please contact:

SMA
Roger Gunnarsson (gunnarsson@segulahmedical.com)
+46 73 850 67 32

About Allurion Technologies
Allurion Technologies is dedicated to helping people reach their weight loss goals with innovative, scalable and trusted experiences. The company’s flagship product, the Elipse Program, is a 360-degree weight loss experience featuring the Elipse Balloon, the world’s first and only swallowable, procedureless gastric balloon for weight loss.
https://allurion.com

About Segulah Medical Acceleration AB
Segulah Medical Acceleration (SMA) is a Scandinavia-based investment company focusing on innovative medical technology companies primarily in Europe. SMA’s objective is to help its partner companies accelerate growth and reach commercial proof of concept. SMA’s main geographic remit is Scandinavia and other Western European countries while some funds can be deployed outside Europe. The areas within Medtech that SMA prioritizes include medical devices and consumables, diagnostics, life science tools, and digital technologies (AI). SMA has more than SEK 1.25b (€ 125m equivalent) in investable funds.
https://segulahmedical.com/