Core Viewpoint - ReShape Lifesciences Inc. and Vyome Therapeutics, Inc. are merging in an all-stock transaction to create a company focused on immuno-inflammatory diseases and leveraging the U.S.-India innovation corridor [1][2][5] Company Overview - ReShape Lifesciences is a leading company in weight loss and metabolic health solutions, offering products like the FDA-approved Lap-Band® System and the investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system [9] - Vyome Therapeutics is a clinical-stage company targeting immuno-inflammatory and rare diseases, aiming to build a healthcare platform that spans the U.S.-India innovation corridor [6][7] Merger Details - The merger agreement was finalized on July 9, 2024, with ReShape to be renamed Vyome Holdings, Inc. and trading under the ticker symbol "HIND" [2] - The board of the combined company will consist of six directors from Vyome and one from ReShape, with Vyome's executive officers leading the management [2] Asset Purchase Agreement - Concurrently with the merger, ReShape entered into an asset purchase agreement with Biorad Medisys, selling substantially all of its assets, including the Lap-Band® System and Obalon® Gastric Balloon System [3] - The cash from the asset sale will contribute to ReShape's net cash for determining post-merger ownership allocation [3] Regulatory Filings - ReShape filed a Form S-4 registration statement with the SEC on October 1, 2024, and an amendment on December 6, 2024, related to the merger [4] - An additional Form S-1 registration statement for an Equity Line of Credit (ELOC) was filed on December 20, 2024, to support general operations and merger-related expenses [4] Leadership Statements - The CEO of ReShape expressed confidence that the merger and asset sale will maximize shareholder value and unlock significant potential for the combined entity [5] - Vyome's current director, who will become the Chairman of the combined company, emphasized the goal of developing new therapies for chronic immune-inflammatory conditions efficiently [5]
ReShape Lifesciences® Provides Update on Merger Agreement With Vyome Therapeutics and Asset Purchase Agreement With Biorad Medisys