ROSEVILLE, Minnesota — EnteroMedics Inc. already faces plenty of doubters on Wall Street. So not surprisingly, the company was not too happy with a recent story I wrote suggesting Leptos Biomedical Inc.’s demise had something to do with EnteroMedics’s problems with the Food and Drug Administration.
EnteroMedics and Leptos are both developing a device that uses electricity to treat obesity. But that’s where the similarities end, EnteroMedics CEO Mark Knudson told me in a quick phone call.
“I see no connection,” he said.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
In the story, I wrote EnteroMedics’ problems with gaining FDA approval for its VBLOC therapy spelled bad news for companies like Leptos, who are far behind EnteroMedics in clinical development. I theorized EnteroMedics’ FDA woes spooked investors in the competition.
If EnteroMedics fails to win regulatory approval, companies following it will no doubt face a tough time raising money, Knudson said. But Leptos’ demise probably had a more simple reason: Its technology didn’t work, he said.
Leptos CEO Hans Neisz declined to tell me why the company folded, except to say it had nothing to do with raising money.
I should note that Knudson, who was gracious and friendly, invited me to visit his company next month. I gladly accepted.