EndoGastric Solutions, Inc.® Announces CEO Transition and $18M Financing to Expand Commercialization

— Darin Hammers appointed Chief Executive Officer —
— EGS closes on $18M financing to further drive growth and adoption of the Transoral Incisionless Fundoplication (TIF) procedure —

REDMOND, Wash. — December 5, 2022 — EndoGastric Solutions, Inc.® (EGS) announced that Darin Hammers had been appointed to be President and Chief Executive Officer of the Company and a member of the Board of Directors. Darin replaces Skip Baldino, who recently stepped down from this position.

EGS is also pleased to announce that the Company has closed on a significant financing of $18M to help further drive the growth and adoption of the TIF 2.0 procedure to help patients suffering from Gastroesophageal Reflux Disease (GERD).

Mr. Hammers’ experience includes over 30 years of increasing leadership roles in the medical device industry. Most recently, he had served as CEO of DYSIS Medical since September 2018. Before joining DYSIS, Mr. Hammers served as the President and CEO of Cogentix Medical, which Laborie acquired in April 2018. He joined Cogentix’s predecessor company, Uroplasty, as Vice President of Global Sales in January 2013. He was promoted to Chief Operating Officer before being named President and CEO in July 2016. Prior to joining Uroplasty, he was Vice President of Sales for Bard Medical Division of C.R. Bard based in Covington, GA, focused on Urology/Gynecology care products. Mr. Hammers also spent more than 12 years with Boston Scientific in various sales leadership positions and six years at ETHICON. He received his bachelor’s degree in Marketing from the University of Southern Indiana, and a master’s in Business Administration from Emory University – Goizueta Business School.

“We look forward to working with Darin as we embark on the next stage of the Company’s growth and would like to thank Skip for his leadership and for helping establish a solid foundation during his tenure as CEO,” said Brent Ahrens, General Partner – Canaan Healthcare and EGS board member.

“I am excited to join EGS at this pivotal point in the Company’s commercial evolution, and l look forward to working with this highly-experienced management team and board of directors,” Mr. Hammers said. “Additionally, the $18M investment into the Company will provide us with added fuel to drive future growth.

“I am extremely proud to have led EGS through significant transformations over the past eight years,” said Mr. Baldino. “We have an incredibly talented team and physician partners who are deeply committed to the EGS mission of bringing life-changing relief to millions suffering from GERD. I look forward to supporting Darin and the Company and to advancing progress with all stakeholders,” said Mr. Baldino. Mr. Baldino will continue to serve the Company as a strategic advisor.

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About GERD
Gastroesophageal reflux disease (GERD) is a common gastrointestinal disease that affects nearly 20 percent of the U.S. population. It is a chronic condition in which the gastroesophageal valve (GEV) allows gastric contents to reflux (wash backwards) into the esophagus, causing heartburn and possible injury to the esophageal lining. In the United States (U.S.), GERD is the most common gastrointestinal-related diagnosis physicians make during clinical visits. Some patients may have mild or moderate symptoms of GERD, while others have more severe manifestations causing chronic heartburn, asthma, chronic cough, and hoarse voice or chest pain. Left untreated, GERD can develop into a pre-cancerous condition called Barrett’s esophagus, which is a precursor for esophageal cancer. The first treatment recommendation for patients with GERD is to make lifestyle changes (e.g., diet, scheduled eating times and sleeping positions). Proton pump inhibitor (PPI) medications are commonly used to treat GERD, but there are a variety of health complications associated with long-term dependency on PPIs, and more than 10 million Americans are refractory to PPI therapy and may opt for surgery.

About Transoral Incisionless Fundoplication (TIF® 2.0 procedure) for Reflux
The TIF 2.0 procedure enables an incisionless approach to fundoplication in which a device is inserted through the mouth, down the esophagus and into the upper portion of the stomach. This approach offers patients looking for an alternative to traditional surgery an effective treatment option to correct the underlying cause of GERD. Based on clinical studies, most patients stopped using daily medications to control their symptoms and had their esophageal inflammation (esophagitis) eliminated up to five years after the TIF 2.0 procedure. Additionally, clinical results have demonstrated that laparoscopic hiatal hernia repair (LHHR) immediately followed by TIF 2.0 procedure is safe and effective in patients requiring repair of both anatomical defects.

Over 25,000 TIF procedures have been performed worldwide. More than 140 peer-reviewed papers have consistently documented the sustained improved clinical outcomes and exemplary safety profile the TIF procedure provides to patients suffering from GERD. For more information, please visit www.GERDHelp.com.

About Reimbursement
With the support of clinical societies, commercial and federal insurance providers, representing more than 100 million lives, have recognized the value of the TIF 2.0 procedure through recently expanded coverage policies. The TIF 2.0 procedure is a covered benefit for all Medicare beneficiaries across the country.

For the TIF 2.0 procedure, physicians and hospitals can reference CPT Code 43210 EGD esophagogastric fundoplasty. CPT is a registered trademark of the American Medical Association.

About EsophyX® Technology
The EsophyX technology is used to reconstruct the gastroesophageal valve (GEV) and restore its function as a barrier, preventing stomach acids from refluxing back into the esophagus. The device is inserted through the patient’s mouth with direct visual guidance from an endoscope, and enables creation of a 3 cm, 270° esophagogastric fundoplication. The U.S. Food and Drug Administration cleared the original EsophyX device in 2007. The evolving technology, including the latest iteration EsophyX Z+, launched in 2017, enables surgeons and gastroenterologists to use a wide selection of endoscopes to treat the underlying anatomical cause of GERD.

Indications
The EsophyX device, with SerosaFuse® fasteners and accessories, is indicated for use in transoral tissue approximation, full thickness plication and ligation in the gastrointestinal tract. It is indicated for the treatment of symptomatic chronic GERD in patients who require and respond to pharmacological therapy. The device is also indicated to narrow the gastroesophageal junction and reduce hiatal hernia ≤ 2 cm in size in patients with symptomatic chronic GERD. Patients with hiatal hernias larger than 2 cm may be included, when a laparoscopic hiatal hernia repair reduces the hernia to 2 cm or less.

About EndoGastric Solutions®
Based in Redmond, Washington, EndoGastric Solutions, Inc. (www.endogastricsolutions.com), is a medical device company developing and commercializing innovative, evidence-based, incisionless surgical technology for the treatment of GERD. EGS has combined the most advanced concepts in gastroenterology and surgery to develop products and procedures to treat gastrointestinal diseases, including the TIF 2.0 procedure—a minimally invasive solution that addresses a significant unmet clinical need. Join the conversation on Twitter: @GERDHelp Facebook: GERDHelp and LinkedIn: EndoGastric Solutions.

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Contact:
Amber Berman
EndoGastric Solutions, Inc.
ABerman@EndoGastricSolutions.com

Erich Sandoval
Lazar Partners
Phone: +1 917-497-2867
esandoval@lazarpartners.com