LEXINGTON, Massachusetts & SYDNEY – 18 March 2013 – GI Dynamics, Inc. (ASX: GID) today announced that EndoBarrier® Therapy, the Company’s non-surgical, non-pharmaceutical treatment for type 2 diabetes and/or obesity, was selected by an independent panel of international life sciences experts as BioSpectrum Asia’s Product of the Year 2013. EndoBarrier Therapy was chosen as a novel approach that helps patients regain control of their blood sugar and weight at the same time.
Anthony Switzer, manager, commercial development, Australia / New Zealand at GI Dynamics accepted this award at the BioSpectrum Asia Annual Awards Dinner held in Singapore at the Hotel Fort Canning on Friday, March 15. BioSpectrum Asia is the leading publication on life sciences in the Asia-Pacific region.
“We are delighted that EndoBarrier Therapy is being recognized with this honor by BioSpectrum Asia,” said Stuart Randle, president and CEO of GI Dynamics. “This is an exciting time for GI Dynamics in Australia and around the globe as we continue to commercialize EndoBarrier Therapy in multiple markets and bring this innovative new treatment option to more people living with type 2 diabetes and obesity.”
EndoBarrier Therapy is a revolutionary approach to treating type 2 diabetes and/or obesity. Delivered and removed endoscopically (i.e., through the mouth), the EndoBarrier device is a flexible, tube-shaped liner that creates a barrier between ingested food and part of the intestine, mimicking the effects of a gastric bypass, but without the risks associated with surgery. Once in place, EndoBarrier begins working immediately and has been shown to lower HbA1c (blood glucose) to healthy levels and achieve weight loss of approximately 20 percent within one year.
According to the International Diabetes Federation, there are 366 million people worldwide living with diabetes. Approximately 90% of these cases are type 2 diabetes, and rates are increasing in every country around the globe.
About EndoBarrier Therapy
EndoBarrier Therapy is a revolutionary, non-surgical, non-pharmaceutical treatment proven to help people living with uncontrolled type 2 diabetes and weight problems achieve rapid and dramatic reductions in blood sugar levels, as well as substantial weight loss. EndoBarrier Therapy is a convenient and discreet treatment for people whose diabetes medications are no longer effective, who are at risk for serious health complications and who want to avoid the progression to daily insulin injections. An innovative, reversible medical device, EndoBarrier Therapy also enables patients to avoid the lifestyle changes and frequent post-surgical interventions associated with irreversible bypass surgery and gastric banding. This first-of-its-kind therapy is helping patients around the world fight their battle against type 2 diabetes and obesity while providing a pathway to a healthier lifestyle. For more information, please visit www.EndoBarrier.com.
About GI Dynamics
GI Dynamics, Inc. (ASX: GID) is the developer and marketer of EndoBarrier®, a breakthrough device that represents an entirely new class of non-surgical, non-pharmaceutical therapy for the treatment of type 2 diabetes and/or obesity. EndoBarrier is approved and commercially available in multiple countries outside the U.S.; and GI Dynamics is
conducting a pivotal clinical trial of EndoBarrier in the U.S. for the treatment of patients who have uncontrolled type 2 diabetes and are obese. Founded in 2003, GI Dynamics is headquartered in Lexington, Massachusetts. For more information, please visit www.gidynamics.com.
This announcement contains or may contain forward-looking statements that are based on management’s beliefs, assumptions and expectations and on information currently available to management. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation our expectations with respect to our ability to commercialize our EndoBarrier® including our estimates of potential revenues, costs, profitability and financial performance; our ability to develop and commercialize new products including our ability to obtain reimbursement for our products; our expectations with respect to our clinical trials, including enrollment in or completion of our clinical trials and our associated regulatory submissions and approvals; our expectations with respect to the integrity or capabilities of our intellectual property position. Management believes that these forward-looking statements are reasonable as and when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. GI Dynamics does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. GI Dynamics may not actually achieve the plans, projections or expectations disclosed in forward-looking statements, and actual results, developments or events could differ materially from those disclosed in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, described in “Risk Factors” in our Prospectus lodged with the Australian Securities & Investments Commission on 3 August 2011.