ReShape Lifesciences® Receives Health Canada Approval for its Next-Generation Lap-Band® 2.0 FLEX

FLEX Technology Designed to Improve the Patient Experience

/EIN News/ -- IRVINE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- ReShape Lifesciences^® (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that Health Canada has updated the Medical Device License granting approval for the company’s next generation, enhanced Lap-Band^® 2.0 FLEX and Tubing Kit.

“Approval by Health Canada for the Lap-Band^® 2.0 FLEX is yet another significant milestone for ReShape and an important growth catalyst for the company’s Lap-Band^® franchise,” stated Paul F. Hickey, President and Chief Executive Officer of ReShape Lifesciences. “As a reminder, the enhanced Lap-Band^® 2.0 FLEX was designed with physician feedback with the goal of improving the patient experience. Like the current Lap-Band, Lap-Band^® 2.0 FLEX can be adjusted postoperatively to increase or decrease the band opening, thus optimizing eating habits and comfort. Additionally, Lap-Band^® 2.0 FLEX has a new feature called Flex technology, which acts as a relief valve, enabling larger pieces of food to pass through the narrowed passage more easily. Specifically, the band momentarily relaxes before returning to its resting diameter, while minimizing discomfort caused by swallowing large food pieces. Recently, we have successfully completed the limited market release of the Lap-Band^® 2.0 FLEX in the U.S., and initial surgeon feedback has been overwhelmingly positive, we are analyzing data and metrics that will be used to support our U.S. commercial launch. Additionally, we now look forward to launching the product in Canada in the near future.”

About ReShape Lifesciences^®
ReShape Lifesciences^® is America’s premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and metabolic disease. The FDA-approved Lap-Band^® System provides minimally invasive, long-term treatment of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. The investigational Diabetes Bloc-Stim Neuromodulation™ (DBSN™) system utilizes a proprietary vagus nerve block and stimulation technology platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon^® balloon technology is a non-surgical, swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit www.reshapelifesciences.com.

Forward-Looking Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. Forward-looking statements in this press release include statements about the company’s expected commercial launch of the Lap-Band^® 2.0 in the U.S. and Canada. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as "risk factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.

CONTACTS
ReShape Lifesciences Investor Contact:
Paul F. Hickey
President and Chief Executive Officer
949-276-7223
ir@ReShapeLifesci.com

Investor Relations Contact:
Rx Communications Group
Michael Miller
(917)-633-6086
mmiller@rxir.com