EnteroMedics Inc (NASDAQ:ETRM) announced the launch of the vBloc Now program. The program provides qualified patients access to vBloc® Therapy at a reduced cost in partnership with select bariatric and weight loss centers across the United States. vBloc Therapy is designed to help patients feel full, eat less food, and lose weight, thereby improving their overall health.
“We’ve repeatedly stated that our goal remains broad coverage and reimbursement for vBloc Therapy,” said Dan Gladney, EnteroMedics President, Chief Executive Officer, and Chairman of the Board. “Since receiving FDA approval in 2015, the largest barrier to adoption for patients who want vBloc Therapy has been cost. Discussions with interested payers indicate our final hurdle to insurance coverage is gathering additional patient data in a commercial setting. The vBloc Now program is designed to generate commercial vBloc patient outcomes and support positive coverage decisions.”
The vBloc Now program provides qualified patients battling obesity the opportunity to receive vBloc Therapy including the device, procedure, and vBloc Achieve follow up program at an affordable price in exchange for sharing detailed health data with EnteroMedics. The program is available for a limited time, will reduce patient total out-of-pocket costs, and compete with leading covered bariatric surgery procedures as well as other low-cost weight loss devices.
Hundreds of clinical trial patients with vBloc Therapy have shown durable excess weight loss at two years, as well as meaningful improvements in related health conditions such as Type 2 diabetes. The vBloc Now program kicked off at two vBloc Institutes in the beginning of June. Over thirty patients who applied for the program are expected to complete the minimally invasive procedure and start vBloc Therapy before the end of the June. To learn more about the program call 1-800-MY-VBLOC.
vBloc Therapy is approved for use in helping with weight loss in people aged 18 years and older who are obese, with a BMI of 40 to 45 kg/m2, or a BMI of 35 to 39.9 kg/m2 with a related health condition such as Type 2 diabetes, high blood pressure, high cholesterol levels or obstructive sleep apnea who have had a poor response to trying to lose weight under supervision in the last 5 years.
Shares of Enteromedics closed yesterday at $5.06, up $0.01 or 0.20%. ETRM has a 1-year high of $31.49 and a 1-year low of $0.04. The stock’s 50-day moving average is $4.93 and its 200-day moving average is $5.62.
EnteroMedics, Inc. is a clinical development stage medical device company that engages in the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. Its proprietary neuroblocking technology is designed to intermittently block the vagus nerve using high frequency, low energy, electrical impulses. Its initial product Maestro System, which uses VBLOC therapy to affect metabolic regulatory control, limit the expansion of the stomach, help control hunger sensations between meals, reduce the frequency and intensity of stomach contractions and produce a feeling of early and prolonged fullness.