Allurion
A disruptive innovation with a massive market potential

NATICK, Mass.- Allurion Technologies, Inc. (“Allurion”), announced that they have entered into a definitive business combination agreement that will result in Allurion becoming a publicly listed company. Upon closing, the combined company (the “Company”) will be named Allurion Technologies, Inc. and its common stock (the “Common Stock”) is expected to be traded on the New York Stock Exchange under the symbol “ALUR”.
“RTW is proud to support Allurion’s mission to end obesity as a lead equity investor in the PIPE, as well as provide complementary non-dilutive royalty financing that accelerates Allurion’s commercialization strategy”
“This transaction is an important milestone for the Company. Allurion is just beginning its mission to end obesity around the world. With over 100,000 patients treated and counting, we have our sights set on touching the lives of the two billion people globally who are overweight,” said Dr. Shantanu Gaur, Allurion Co-Founder and CEO. “By combining our revolutionary Allurion Balloon with a digital platform and behavior change program, we have created the world’s first and only full-stack weight loss platform. We look forward to investing this capital to fulfill our mission.”
There are two billion adults around the world who are overweight and 650 million adults with obesity. Among children and adolescents, obesity has increased tenfold during the past four decades. Importantly, most weight loss options are not delivering on expectations: 76% of patients are not fully satisfied by diet plans and 65% of patients fear complications related to more invasive techniques. While weight loss drugs have shown to be effective, they often need to be used for life at significant costs and can result in undesirable side effects. Both patients and providers are in need of clinically proven weight loss solutions that can scale globally and address these shortcomings.
Allurion is tackling this unmet need by offering the world’s first full-stack weight loss platform. At the core of this platform is The Allurion Program, which combines the world’s first and only swallowable, procedure-less intragastric balloon for weight loss (the “Allurion Balloon”), a proprietary behavior change program, and the Virtual Care Suite (“VCS”), an artificial intelligence (“AI”)-powered digital therapeutic and remote patient monitoring solution.
The Allurion Balloon is designed to address various shortcomings of legacy gastric balloons. It is swallowed as a capsule and filled under the guidance of a health care provider without surgery, endoscopy, or anesthesia. The placement takes approximately 15 minutes during an outpatient visit. Approximately four months later, a patented ReleaseValve™ opens allowing the balloon to empty and pass out of the body naturally. The patient does not need to return to the doctor to have the balloon removed. The Allurion Balloon has demonstrated a favorable safety profile with minimal serious adverse events.
Through the Allurion VCS, providers can securely message their patients, conduct virtual telehealth visits, and monitor patient performance remotely with AI-powered analytics that integrate data from the Allurion App, Connected Scale, and Health Tracker. Through the Allurion App, patients can access Allurion’s proprietary behavior change program—a library of over 150 weight loss actions related to diet, nutrition, mental health, sleep, and goal setting—in over 15 languages.
Allurion’s revenue growth has been fueled by increasing utilization of The Allurion Program by existing providers and rapid geographical expansion. Allurion’s revenues in 2020, 2021, and 2022 were $20 million, $38 million, and $64 million, respectively. In 2022, the Company continued its worldwide expansion with the launch of the Allurion Program in Canada, Mexico, India, Australia, and Brazil. In the U.S., Allurion has launched the AUDACITY trial, an open-label, pivotal study to evaluate the safety and efficacy of the Allurion Balloon plus Moderate Intensity Lifestyle Modification Therapy Program (or “MILMTP”) versus MILMTP alone in U.S. patients.
“With our deep experience at the intersection of healthcare, technology, and data, we see Allurion as a breakthrough platform addressing and solving one of the largest unmet medical needs in the world,” said Omar Ishrak, Compute Health Chairman. “Allurion’s unique technologies together with its track record of consistent and exceptional growth truly differentiate it from other competitive attempts at weight loss. The company is uniquely positioned for long-term success in a massive addressable market.”
The proposed transaction includes a fully committed PIPE led by RTW Investments and a non-dilutive, synthetic royalty financing from RTW Investments that will close concurrently with the business combination.
“RTW is proud to support Allurion’s mission to end obesity as a lead equity investor in the PIPE, as well as provide complementary non-dilutive royalty financing that accelerates Allurion’s commercialization strategy,” said Roderick Wong, MD, Managing Partner and Chief Investment Officer of RTW Investments, LP. “We believe the Company is well-positioned to compete in the weight-loss market and provide a much-needed tool for healthcare providers and their patients.”
Dr. Shantanu Gaur, Co-Founder and CEO, founded Allurion in 2009 while at Harvard Medical School. Since receiving the CE-mark for the Allurion Balloon in 2015, Allurion has built its brand by studying its weight loss program in large, diverse populations. In a study of 1,770 patients from 19 centers in nine countries, Allurion Program patients lost 14% of total body weight or 30 pounds on average after just four months. In a separate study of 522 Allurion Program patients who were monitored following balloon passage, 95% of the weight lost by such patients at four months was maintained at the one-year mark. Finally, in a study of 226 patients with type 2 diabetes or pre-diabetes treated with the Allurion Program, those with type 2 diabetes reduced their hemoglobin A1c (“HbA1c”) on average by 1.5 points and those with prediabetes reduced their HbA1c by 1.1 points, putting both diseases into remission.
The Company will continue to be led by Dr. Shantanu Gaur, Allurion’s Co-Founder and CEO, after the business combination. The expanded Board of Directors is expected to be co-chaired by longtime Allurion investor Krishna Gupta of REMUS Capital and Omar Ishrak and include Nick Lewin, Chairman of Establishment Labs (NASDAQ: ESTA).
“We were the first institutional partner of Allurion more than a decade ago, and our conviction in the market opportunity, company, management, and revolutionary technology has only grown,” said Krishna Gupta, CEO of REMUS Capital. “The global opportunity to reliably drive safe and effective weight loss taps both medical and aesthetic needs of consumers and has unlimited potential. This transaction will accelerate Allurion’s path to becoming a global market leader in the weight loss space leveraging its digital DNA and cutting-edge science.”
The proposed transaction also includes a senior secured term loan from an affiliate of Fortress Investment Group to refinance existing Allurion debt and further extend runway, and is further supported by a $100 million Chardan Equity Facility (the “ChEF”). Under the terms of the ChEF, after the proposed business combination has closed, Chardan Capital Markets LLC (“Chardan”) has committed to purchase up to an aggregate of $100 million of Allurion common stock from time to time at the request of Allurion. This facility will provide Allurion with the ability to raise additional capital opportunistically in the future.
“Allurion has developed a unique technology and differentiated portfolio of intellectual property,” said Christopher LiPuma, Director at Fortress. “In particular, the Company’s strong IP position in the weight loss space stands out as a key asset that we believe will provide the foundation for future growth and potential partnerships.”

Company also announces addition of serial entrepreneur Brian Conyer to the team to lead commercialization of Allurion’s digital assets
NATICK - Allurion Technologies, Inc., announced an expanded commercial agreement with Weight Doctors®—Germany’s leading group of private clinics and centers for weight loss—and the hiring of Brian Conyer to lead commercialization of Allurion’s rapidly growing digital assets.
Weight Doctors, after a successful year in 2023 wherein they catered to over 2,000 patients through Allurion’s Virtual Care Suite (VCS) digital platform, have recently inked an agreement with Allurion to extend the usage of VCS to new patients and diverse locations in 2024. This expansion encompasses regions like the Netherlands and the UK. The patient spectrum comprises individuals not only undergoing treatment with the Allurion Balloon but also those opting for bariatric surgery and utilizing GLP-1 anti-obesity medications. This widened agreement exemplifies the traction observed by Allurion in the adoption of its Virtual Care Suite. Moreover, it underscores the burgeoning array of commercial prospects for Allurion’s digital platform since the introduction of Coach Iris—an AI-powered weight loss coach available round the clock—back in October 2023.
“As interest in weight loss has grown globally, the need for scalable digital solutions to manage patients and streamline workflow for providers has grown exponentially,” said Shantanu Gaur, Founder and CEO of Allurion. “We believe digital solutions will benefit significantly from the rapidly expanding market opportunity in weight loss, and we aim to leverage our decade of expertise to be at the forefront with customers. Our growth with Weight Doctors underscores the power that Allurion’s digital platform and suite of AI tools have in fulfilling this need for clinics serving large volumes of patients.”
The Allurion Virtual Care Suite represents a comprehensive array of resources suitable for enhancing any weight loss practice. In an internal study conducted by Allurion, it was found that 87% of practitioners utilizing the VCS noticed heightened patient accountability, while 88% reported increased efficiencies within their practice. Additionally, 82% reported a significant rise in patient engagement. Following the introduction of Coach Iris, the VCS has extended its capabilities to offer round-the-clock coaching and support to patients undergoing various modes of care, encompassing weight loss medications, devices, and bariatric surgery.
“Allurion’s Virtual Care Suite has been transformational for our business,” said Alexander P. Glaeser, CEO & Managing Partner of Weight Doctors Group. “Since the global launch of Coach Iris in October 2023, the software has enabled us to meet and exceed our patients' needs in a more timely manner. The positive reception of Coach Iris within our innovative and minimally-invasive weight loss procedures reflects Weight Doctors Group's commitment to enhancing patient experiences and continuously working towards optimizing patient outcomes."
In anticipation of what they perceive as a substantial opportunity, Allurion has bolstered its team by bringing on board Brian Conyer to spearhead the commercialization efforts of Allurion’s digital resources. Mr. Conyer brings with him a wealth of experience as an established entrepreneur, particularly in healthcare B2B and B2C SaaS sales. His most recent role was as the Co-Founder and CEO of GIBLIB, a digital medical education platform that boasted a clientele including prestigious academic medical centers like Mayo Clinic, Stanford Children’s Hospital, and UCSF.
“I am thrilled to be joining Allurion at such a pivotal moment,” said Mr. Conyer. “The demand for weight loss solutions has never been higher, and I believe Allurion’s VCS digital platform will become an essential part of any successful weight loss practice that wants to operate at scale.”

Company also announces first commercial agreements for the Virtual Care Suite in the United States
NATICK - Allurion Technologies, Inc. announced the expansion of its Artificial Intelligence (AI)-powered weight loss coach, Coach Iris, to support patients prescribed GLP-1s and other anti-obesity medications and the first commercial agreements for its Virtual Care Suite (VCS) in the United States. With this update to Coach Iris, patients now have access to 24/7 personalized coaching and guidance specific to GLP-1s and other anti-obesity medications, such as treatment duration, side effects, and consequences of stopping their treatment. They can also engage with Coach Iris for tailored meal plans, recipes, exercise routines, stress management techniques, and motivational insights.
Coach Iris is part of the VCS, a dynamic weight-loss management suite powered by AI and featuring remote patient monitoring, predictive analytics, telehealth, and care team collaboration. The VCS is available to healthcare professionals offering GLP-1 and other anti-obesity medication therapy, bariatric surgery, and weight loss devices.
“I have seen firsthand how difficult it is for providers to offer best-in-class care for patients living with obesity. It demands close follow-up and lifestyle modification coaching at scale for sustained results,” said Dr. Shantanu Gaur, Founder and CEO of Allurion. “We believe VCS and, specifically, Coach Iris, can help ease this burden for them. We are excited to now work with our U.S. clinical partners to help them achieve better, more sustainable weight loss outcomes for their patients.”
Dr. Christopher McGowan, a triple board-certified physician in internal medicine, gastroenterology, and obesity medicine based in North Carolina and founder of True You Weight Loss, chose to integrate VCS and Coach Iris into his treatment algorithm. “As part of a clinical team of weight loss experts that provides minimally invasive and non-surgical weight loss options, we have a diverse patient population that requires personalized care and attention,” said Dr. McGowan. “Allurion’s Virtual Care Suite equips us with digital capabilities to provide even deeper, personalized care for our patients.”
According to a recent study by Blue Cross Blue Shield, 58% of patients discontinue use of GLP-1s before reaching a clinically meaningful health benefit, and 30% of patients discontinued use of the medications within the first month. Those who saw their doctor more often were more likely to continue the treatment, emphasizing the need for greater care management.
Dr. Alexander Shapsis, a triple board-certified physician and President of Atlantic Gastroenterology and EndoSlim Clinic based in New York, chose VCS, in part, to support his GLP-1 patients. “GLP-1s and other anti-obesity treatments demonstrate the most effective results when they are integrated into a holistic weight loss program,” said Dr. Shapsis. “This requires seamless communication between the provider and patients. We chose Allurion’s VCS and its remote patient monitoring technology because the platform was built specifically for weight loss clinics and properly supports the needs of my staff and patients.”
In an Allurion study, 87% of providers who used the VCS reported increased patient accountability, 88% reported increased efficiencies in their practice, and 82% reported increased patient engagement. “We are committed to adopting innovative technologies that enhance patient care. We immediately saw the immense value of Coach Iris and how it will help our patients stay engaged throughout their weight loss journey,” said Paul Barros, Co-Founder and CEO of Pivot Weight Loss. “This multi-purposed, digital tool works in tandem with our bariatric-trained dieticians, ensuring a blend of expert guidance and AI technology.”
“Weight loss clinics in the United States are experiencing explosive growth due to high patient demand for a number of therapies, including GLP-1s,” said Brian Conyer, VP of Digital Health at Allurion. “As a result, we believe there is a significant opportunity for our digital products and AI-powered technology to help clinics and providers meet the demand, maintain positive patient outcomes, and continue to grow.”