BOSTON and SYDNEY — 16 October 2018 — GI Dynamics, Inc. (ASX:GID), a medical device company that is developing EndoBarrier for patients with type 2 diabetes and obesity, is pleased to confirm, further to its announcement released on 21 September 2018, the attached proxy statement and notice of a special meeting of stockholders (Special Meeting) has been filed with the U.S. Securities and Exchange Commission. The proxy materials, including this proxy statement and the voting instruction cards will be mailed to stockholders on or about 16 October 2018.

The Special Meeting is to be held on Monday, 29 October 2018 at 5:00pm United States Eastern Daylight Time, (30 October 2018 at 8:00am Australian Eastern Daylight Time) at the offices of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., One Financial Centre, Boston, Massachusetts 02111.

If not attending in person, the meeting can be accessed through a teleconference line.

Accessing via teleconference

For those preferring to listen by telephone, please dial in five minutes prior to the start of the call. Regional dial in number are as follows:

United States                       Dial Toll Free              877.407.6184

Australia                               Dial Toll Free              1.800.687.004

Germany                              Dial Toll Free              0.800.182.0040

United Kingdom                   Dial Toll Free              0.800.756.3429

Switzerland                          Dial Toll Free              0.800.835.525

Other International               Dial Toll                       201.389.0877


About GI Dynamics

GI Dynamics Inc. (ASX: GID) is the developer of EndoBarrier, an endoscopically delivered device therapy for the treatment of type 2 diabetes and obesity. EndoBarrier is not approved for sale and is limited by federal law to investigative use only. Founded in 2003, GI Dynamics is headquartered in Boston, Massachusetts. For more information, please visit


Forward-Looking Statements

The announcement may contain forward-looking statements. These 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 our ability to continue to operate as a going concern; our ability to raise sufficient additional funds to continue operations and to conduct the planned clinical trial of EndoBarrier in the United States (GID 18-1 Trial); our ability to execute the GID 18-1 Trial under FDA IDE; our ability to enlist clinical trial sites and enroll patients in accordance with the GID 18-1 Trial; the risk that the FDA stops the GID 18-1 Trial early as a result of the occurrence of certain safety events or does not approve an expansion of the GID 18-1 Trial; our ability to maintain compliance with our obligations under our existing convertible note and warrant agreements executed with Crystal Amber Fund Limited, including our obligations to make payment on the relevant notes that are due in December 2018; obtaining and maintaining regulatory approvals required to market and sell our products; the possibility that future clinical trials will not be successful or confirm earlier results; the timing and costs of clinical trials; the timing of regulatory submissions; the timing, receipt and maintenance of regulatory approvals including the timing and attainment of the EndoBarrier CE Mark; the timing and amount of other expenses; the timing and extent of third-party reimbursement; intellectual-property risk; risks related to excess inventory; 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.