EnteroMedics closes a $13 million public offering it plans to use to win FDA approval for its Maestro weight loss device.

EnteroMedics [1] (NSDQ:ETRM [2]) said it closed a public offering it expects to add about $12 million to its coffers after it pays off expenses.
The St. Paul, Minn.-based medical device company is developing technology to treat obesity using neurostimulation of the vagus nerve to suppress the appetite.
EnteroMedics said [3] it plans to use the cash to pursue FDA approval of its Maestro RC vagal nerve blocking system and to commercialize the device overseas.
EnteroMedics said it closed a public offering it expects to add about $12 million to its coffers after it pays off expenses. The St. Paul, Minn.-based medical device company is developing technology to treat obesity using neurostimulation of the vagus nerve to suppress the appetite.