Weight Loss: ReShape Medical Forms Up $16 Million

ReShape Medical raises $16 million in an equity round it hopes will wind up adding $22 million to its coffers for its dual-intragastric weight loss balloon. ReShape Medical reeled in $15.8 million of a hoped-for $21.5 million funding round from a group of 7 unnamed investors, according to a regulatory filing. The San Clemente, Calif.-based medical device company is developing a non-surgical weight loss device, the ReShape Duo, to treat obese patients. The device is a dual balloon designed to take up space in the stomach to reduce its capacity for food. In June, ReShape landed $1.5 million in a debt round, according to a separate filing.