BOSTON and SYDNEY — 3 May 2017 — GI Dynamics®, Inc. (ASX:GID), a medical device company that has commercialized EndoBarrier® in Europe, the Middle East and South America for patients with type 2 diabetes and obesity, announces Allenby Capital Limited’s engagement to explore options for seeking admission of GI Dynamics shares to trade on the London Stock Exchange’s AIM market.
Allenby Capital is a London-based NOMAD (nominated adviser) and broker on the London Stock Exchange’s AIM market that focuses on providing a range of advisory and transactional services to growing businesses. Allenby Capital has played a leading role in numerous successful listings and secondary fundraisings for its corporate clients in various business sectors and geographical jurisdictions.
“We look forward to working with Allenby Capital to explore options for listing GI Dynamics shares on the AIM market,” said Scott Schorer, GI Dynamics’ President and CEO. “Allenby Capital comes highly recommended and has the relevant experience to fully explore this opportunity. AIM represents an attractive public equity market for international growth companies seeking to access capital. We also view AIM as a method of increasing GI Dynamics profile in our key European markets, which is synchronized with our commercial focus.”
About GI Dynamics
GI Dynamics, Inc. (ASX:GID), is the developer of EndoBarrier, the first endoscopically-delivered device therapy approved for the treatment of type 2 diabetes and obesity. EndoBarrier is approved and commercially available in multiple countries outside the United States. EndoBarrier is not approved for sale in the United States and is limited by federal law to investigational use only in the United States. Founded in 2003, GI Dynamics is headquartered in Boston, Massachusetts. For more information, please visit www.gidynamics.com.
This announcement contains forward-looking statements concerning our development and commercialization plans, potential revenues and revenue growth, costs, excess inventory, profitability and financial performance, ability to obtain reimbursement for our products, clinical trials and associated regulatory submissions and approvals, the number and location of commercial centers offering the EndoBarrier, and our intellectual property position. These forward-looking statements are based on GI Dynamics’ management’s current estimates and expectations of future events as of the date of this announcement. Furthermore, the estimates are subject to several risks
and uncertainties that could cause actual results to differ materially and adversely from those indicated in or implied by such forward-looking statements. These risks and uncertainties include but are not limited to, risks associated with the consequences of terminating the ENDO trial and the possibility that future clinical trials will not be successful or confirm earlier results. Further risks are associated with obtaining funding from third parties; the timing and costs of clinical trials; the timing of regulatory submissions; and the timing, receipt and maintenance of regulatory approvals. The timing and amount of other expenses and the timing and extent of third-party reimbursement risks associated with commercial product sales, including product performance, competition, risks related to market acceptance of products, intellectual-property risk; risks related to excess inventory; and risks related to assumptions regarding the size of the available market, the benefits of our products, product pricing, timing of product launches, future financial results and other factors, including those described in our filings with the U.S. Securities and Exchange Commission. Given these uncertainties, one should not place undue reliance on these forward-looking statements. We do not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or otherwise, unless we are required to do so by law.