ReShape Lifesciences Updates on Merger with Vyome
Deal News | Jan 13, 2025 | Globenewswire
ReShape Lifesciences and Vyome Therapeutics have announced an update on their merger agreement, where ReShape will become Vyome Holdings, Inc. post-merger. The merger, an all-stock transaction agreed upon in July 2024, seeks to advance Vyome’s immuno-inflammatory assets leveraging the U.S.-India innovation corridor. As part of the transaction, ReShape will divest its assets including the Lap-Band System to Biorad Medisys, offsetting liabilities and optimizing shareholder value. The merged entity will target immuno-inflammatory diseases and intends to reincorporate strategic advantages across pharmaceutical, medical devices, and AI sectors. The completion timeline hinges on SEC’s acceptance of necessary filings.
Sectors
- Healthcare
- Medical Devices
- Biotechnology
- Pharmaceuticals
Geography
- United States – ReShape is headquartered in Irvine, California, and the transaction filings are with the U.S. SEC, emphasizing its operational base and regulatory environment.
- India – Biorad Medisys and Vyome are emphasizing strategic operations across the U.S.-India innovation corridor, highlighting the geographical relevance to India.
Industry
- Healthcare – The merger and transactions involve companies focusing on weight loss, metabolic health solutions, and immuno-inflammatory diseases, aligning with healthcare industry standards.
- Medical Devices – ReShape’s divestment of its medical device assets such as the Lap-Band System and Obalon Gastric Balloon System to Biorad highlights its role in this sector.
- Biotechnology – Vyome's focus on clinical-stage assets for immuno-inflammatory conditions taps into the biotechnology sector's innovation and research-driven nature.
- Pharmaceuticals – The therapeutic focus of Vyome on new treatments for immune-inflammatory diseases relates directly to the pharmaceuticals industry.
Financials
- Not disclosed – The cash purchase price under the asset purchase agreement, aiming to adjust the net cash for post-merger ownership allocation.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ReShape Lifesciences Inc. | Target Company | Company | A weight loss and metabolic health-solutions company based in Irvine, California. |
| Vyome Therapeutics, Inc. | Bidding Company | Company | A clinical-stage company focused on immuno-inflammatory and rare diseases, based in Cambridge, Massachusetts. |
| Biorad Medisys Pvt. Ltd. | Buying Company of Assets | Company | A med-tech company involved in the purchase of ReShape's assets, with operations spanning multiple medical device sectors. |
| Ascent Partners Fund LLC | Financial Partner | Company | Involved with ReShape regarding the Equity Line of Credit (ELOC) providing financial backing. |
| U.S. Securities and Exchange Commission (SEC) | Regulatory Body | Government | Provides regulatory oversight for the merger and asset purchase agreement filings. |